OVERSEA CHINESE BANKING Corp Ltd Purchases 4,564 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 198.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,860 shares of the apparel retailer’s stock after buying an additional 4,564 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Lululemon Athletica were worth $1,844,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LULU. QRG Capital Management Inc. raised its holdings in shares of Lululemon Athletica by 78.8% in the first quarter. QRG Capital Management Inc. now owns 7,211 shares of the apparel retailer’s stock valued at $2,817,000 after purchasing an additional 3,178 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Lululemon Athletica by 2.1% during the 1st quarter. Bleakley Financial Group LLC now owns 1,889 shares of the apparel retailer’s stock worth $738,000 after buying an additional 38 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lululemon Athletica during the 1st quarter worth about $57,000. Koshinski Asset Management Inc. bought a new position in shares of Lululemon Athletica in the 1st quarter valued at about $226,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Lululemon Athletica by 2.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 123,323 shares of the apparel retailer’s stock valued at $44,913,000 after acquiring an additional 3,304 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler increased their price target on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Jefferies Financial Group reissued an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a research note on Thursday, July 25th. Morgan Stanley dropped their price target on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Citigroup decreased their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, The Goldman Sachs Group cut shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and dropped their target price for the company from $463.00 to $286.00 in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $357.13.

Lululemon Athletica Trading Up 0.8 %

NASDAQ LULU opened at $320.90 on Wednesday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The firm has a market capitalization of $39.40 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 2.32 and a beta of 1.24. The firm’s 50 day simple moving average is $280.78 and its 200 day simple moving average is $290.46.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The firm had revenue of $2.40 billion for 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 business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 earnings per share. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Insiders Place Their Bets

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

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.