NewEdge Advisors LLC Has $2.02 Million Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

NewEdge Advisors LLC grew its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 9.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,766 shares of the apparel retailer’s stock after buying an additional 604 shares during the quarter. NewEdge Advisors LLC’s holdings in Lululemon Athletica were worth $2,021,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in Lululemon Athletica during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new stake in Lululemon Athletica during the 4th quarter worth approximately $31,000. True Wealth Design LLC increased its position in Lululemon Athletica by 2,950.0% in the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 59 shares during the period. Benjamin Edwards Inc. raised its stake in shares of Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Lululemon Athletica during the first quarter worth $29,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

LULU opened at $270.38 on Friday. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The firm has a market capitalization of $33.80 billion, a PE ratio of 21.68, a P/E/G ratio of 1.40 and a beta of 1.25. The company’s 50-day moving average is $257.52 and its 200 day moving average is $305.88.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company earned $2.68 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts expect that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LULU shares. TD Securities increased their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. KeyCorp cut their price objective on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Truist Financial reiterated a “buy” rating and issued a $310.00 target price on shares of Lululemon Athletica in a report on Wednesday, August 28th. Citigroup dropped their price target on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $354.55.

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 486 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost 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 owns 89,922 shares of the company’s stock, valued at $23,379,720. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Company 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.