Covestor Ltd Buys 185 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Covestor Ltd boosted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 28.5% in the third quarter, HoldingsChannel reports. The firm owned 833 shares of the apparel retailer’s stock after acquiring an additional 185 shares during the period. Covestor Ltd’s holdings in Lululemon Athletica were worth $226,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC increased its stake in shares of Lululemon Athletica by 79.6% in the 3rd quarter. Lindbrook Capital LLC now owns 713 shares of the apparel retailer’s stock valued at $193,000 after acquiring an additional 316 shares during the last quarter. Galvin Gaustad & Stein LLC acquired a new position in Lululemon Athletica during the third quarter valued at approximately $20,494,000. SpiderRock Advisors LLC bought a new stake in Lululemon Athletica in the third quarter valued at approximately $588,000. CWA Asset Management Group LLC acquired a new stake in Lululemon Athletica in the third quarter worth $1,039,000. Finally, Easterly Investment Partners LLC bought a new position in shares of Lululemon Athletica during the third quarter worth $6,634,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $308.53 on Friday. The stock has a 50-day simple moving average of $279.60 and a 200 day simple moving average of $291.78. The stock has a market capitalization of $37.88 billion, a P/E ratio of 23.84, a PEG ratio of 2.28 and a beta of 1.24. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the company posted $2.68 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Telsey Advisory Group dropped their price objective on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Citigroup cut their price objective on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Lululemon Athletica in a research note on Monday, August 26th. Sanford C. Bernstein cut their price target on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. Finally, TD Cowen lowered their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.13.

Lululemon Athletica Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.