Easterly Investment Partners LLC Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Easterly Investment Partners LLC bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU) during the third quarter, Holdings Channel reports. The fund bought 24,447 shares of the apparel retailer’s stock, valued at approximately $6,634,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Stiles Financial Services Inc grew its position in shares of Lululemon Athletica by 113.9% in the 3rd quarter. Stiles Financial Services Inc now owns 2,654 shares of the apparel retailer’s stock worth $720,000 after buying an additional 1,413 shares during the period. Palmer Knight Co purchased a new stake in Lululemon Athletica during the 3rd quarter valued at about $6,009,000. Summit Global Investments grew its position in Lululemon Athletica by 152.6% during the 3rd quarter. Summit Global Investments now owns 9,546 shares of the apparel retailer’s stock valued at $2,590,000 after purchasing an additional 5,767 shares during the last quarter. Lifestyle Asset Management Inc. grew its position in Lululemon Athletica by 39.9% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 1,000 shares of the apparel retailer’s stock valued at $271,000 after purchasing an additional 285 shares during the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in Lululemon Athletica during the 3rd quarter valued at about $8,165,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Nicole Neuburger sold 486 shares of the firm’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 of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, with a total value 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. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

LULU traded down $4.46 during trading on Friday, reaching $310.84. 473,645 shares of the company traded hands, compared to its average volume of 2,100,280. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm has a fifty day simple moving average of $277.50 and a 200 day simple moving average of $291.99. The company has a market cap of $38.16 billion, a P/E ratio of 24.37, a PEG ratio of 2.31 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data 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. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the firm posted $2.68 EPS. The company’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Lululemon Athletica in a research report on Monday, August 26th. Truist Financial increased their price objective on shares of Lululemon Athletica from $310.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday. Telsey Advisory Group cut their price objective on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. Raymond James dropped their price target on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, September 2nd. Finally, Bank of America dropped their price target on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $357.13.

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.