Maverick Capital Ltd. Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Maverick Capital Ltd. acquired a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 344,486 shares of the apparel retailer’s stock, valued at approximately $93,476,000. Lululemon Athletica comprises approximately 1.8% of Maverick Capital Ltd.’s portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LULU. Shepherd Financial Partners LLC purchased a new stake in shares of Lululemon Athletica during the 3rd quarter valued at $953,000. 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. boosted its holdings in Lululemon Athletica by 31.8% in 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 in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Lululemon Athletica by 9.7% during the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after acquiring an additional 3,077 shares during the last quarter. Finally, Rheos Capital Works Inc. increased its holdings in shares of Lululemon Athletica by 19.2% during the third 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 in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Lululemon Athletica Trading Up 0.4 %

Shares of NASDAQ LULU opened at $320.66 on Friday. The company has a 50-day moving average of $297.19 and a 200 day moving average of $287.88. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The stock has a market cap of $39.37 billion, a PE ratio of 24.78, a P/E/G ratio of 2.32 and a beta of 1.24.

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

Analysts Set New Price Targets

Several research firms have weighed in on LULU. Raymond James dropped their target price on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, September 2nd. Piper Sandler raised their target price on Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Bank of America dropped their price target on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company reduced their price objective on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $356.03.

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.