Lululemon Athletica Inc. (NASDAQ:LULU) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC raised its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 29.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,155 shares of the apparel retailer’s stock after acquiring an additional 1,172 shares during the period. Parallel Advisors LLC’s holdings in Lululemon Athletica were worth $1,540,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its stake in Lululemon Athletica by 31.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after purchasing an additional 3,721 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Lululemon Athletica by 202.8% during the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after acquiring an additional 1,148 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Lululemon Athletica by 9.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after acquiring an additional 3,077 shares during the period. Advisory Services Network LLC boosted its position in shares of Lululemon Athletica by 6.0% in the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after acquiring an additional 319 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Lululemon Athletica by 4.0% in the first quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock valued at $3,250,000 after purchasing an additional 321 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Transactions at Lululemon Athletica

In related news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $266.76 on Monday. The stock has a market capitalization of $33.35 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.38 and a beta of 1.25. The company’s 50-day simple moving average is $262.01 and its 200-day simple moving average is $324.07. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm posted $2.68 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its board has initiated a share repurchase plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

LULU has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their price target for the company from $463.00 to $286.00 in a report on Friday, August 2nd. TD Securities lifted their target price on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. Raymond James dropped their price target on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, September 2nd. Truist Financial reaffirmed a “buy” rating and issued a $310.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average target price of $354.94.

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.