Insider Selling: Lululemon Athletica Inc. (NASDAQ:LULU) Insider Sells 486 Shares of Stock

Lululemon Athletica Inc. (NASDAQ:LULU) 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 directly owns 6,198 shares in the company, valued at $1,670,918.82. The sale was disclosed in a filing with the SEC, which is available through this link.

Lululemon Athletica Trading Down 3.1 %

NASDAQ LULU traded down $8.66 during trading hours on Monday, hitting $271.35. 1,977,423 shares of the company’s stock were exchanged, compared to its average volume of 2,132,509. The stock has a 50-day simple moving average of $257.68 and a 200 day simple moving average of $310.64. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The firm has a market cap of $33.92 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released 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. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.68 earnings per share. On average, sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its holdings in Lululemon Athletica by 281.4% in the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after acquiring an additional 6,562 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of 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 in the last quarter. Brookstone Capital Management lifted its holdings in shares of Lululemon Athletica by 202.8% in the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after purchasing an additional 1,148 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Lululemon Athletica by 9.7% in the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of 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 in the last quarter. Institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LULU. HSBC raised Lululemon Athletica from a “hold” rating to a “buy” rating and upped their price objective for the company from $405.00 to $425.00 in a report on Thursday, June 6th. Stifel Nicolaus cut their target price on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Evercore ISI reiterated an “outperform” rating and set a $300.00 target price on shares of Lululemon Athletica in a research report on Monday, August 26th. Sanford C. Bernstein cut their target price on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Finally, KeyCorp cut their target price on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.94.

About Lululemon Athletica

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.