Stock Traders Purchase High Volume of Lululemon Athletica Put Options (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULU) was the target of some unusual options trading on Thursday. Investors purchased 73,786 put options on the stock. This is an increase of approximately 106% compared to the average volume of 35,735 put options.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $347.51 on Friday. The company’s 50 day simple moving average is $422.44 and its 200 day simple moving average is $438.62. Lululemon Athletica has a 12 month low of $326.93 and a 12 month high of $516.39. The company has a market capitalization of $43.79 billion, a P/E ratio of 28.46, a PEG ratio of 1.20 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the previous year, the firm earned $4.40 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, analysts anticipate that Lululemon Athletica will post 14.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $539.00 price objective (down previously from $596.00) on shares of Lululemon Athletica in a research report on Friday, March 22nd. Evercore ISI lowered their price objective on Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Morgan Stanley lowered their price objective on Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Piper Sandler lowered their price target on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Finally, Citigroup lowered their price target on Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $485.39.

Insider Buying and Selling at Lululemon Athletica

In related news, Director Martha A. M. Morfitt bought 700 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at $194,645. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LULU. Valley National Advisers Inc. boosted its holdings in shares of Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares during the period. Tidemark LLC bought a new stake in Lululemon Athletica in the 4th quarter valued at $26,000. Scarborough Advisors LLC bought a new stake in Lululemon Athletica in the 4th quarter valued at $26,000. Milestone Investment Advisors LLC bought a new stake in Lululemon Athletica in the 3rd quarter valued at $27,000. Finally, Bogart Wealth LLC boosted its holdings in Lululemon Athletica by 270.0% in the 3rd quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.