Westside Investment Management Inc. Acquires 270 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Westside Investment Management Inc. lifted its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 900.0% in the third quarter, HoldingsChannel.com reports. The fund owned 300 shares of the apparel retailer’s stock after buying an additional 270 shares during the quarter. Westside Investment Management Inc.’s holdings in Lululemon Athletica were worth $81,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LULU. Shepherd Financial Partners LLC bought a new position in Lululemon Athletica in the 3rd quarter worth approximately $953,000. XTX Topco Ltd lifted its holdings in shares of 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 buying an additional 6,562 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after acquiring an additional 3,721 shares during the last quarter. Rheos Capital Works Inc. increased its holdings in Lululemon Athletica by 19.2% in the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after acquiring an additional 2,500 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Lululemon Athletica by 198.8% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock worth $1,844,000 after purchasing an additional 4,564 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LULU. Needham & Company LLC restated a “hold” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised their price target on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a report on Monday. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Robert W. Baird raised their target price on shares of Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lululemon Athletica from $338.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Lululemon Athletica Price Performance

LULU stock opened at $389.33 on Friday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The business has a 50-day moving average price of $313.85 and a 200 day moving average price of $290.16. The company has a market capitalization of $47.80 billion, a P/E ratio of 28.11, a PEG ratio of 2.84 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.53 EPS. On average, analysts anticipate that Lululemon Athletica Inc. will post 14.17 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

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.