Lululemon Athletica Inc. (NASDAQ:LULU) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,102 shares of the apparel retailer’s stock after purchasing an additional 2,473 shares during the period. Van ECK Associates Corp’s holdings in Lululemon Athletica were worth $17,947,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Daymark Wealth Partners LLC raised its holdings in Lululemon Athletica by 3.8% in the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock worth $293,000 after purchasing an additional 21 shares during the period. Simon Quick Advisors LLC raised its stake in shares of Lululemon Athletica by 1.9% during the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after buying an additional 22 shares during the period. Pinnacle Financial Partners Inc lifted its position in shares of Lululemon Athletica by 1.9% during the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after buying an additional 23 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in Lululemon Athletica by 11.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after acquiring an additional 25 shares during the period. Finally, Sage Mountain Advisors LLC increased its holdings in Lululemon Athletica by 3.3% in the 3rd quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock worth $312,000 after acquiring an additional 26 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insiders Place Their Bets

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $194,645. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

Lululemon Athletica Stock Performance

LULU stock opened at $354.40 on Thursday. The company’s 50 day moving average price is $405.40 and its 200 day moving average price is $438.38. The firm has a market capitalization of $44.66 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.27 and a beta of 1.30. Lululemon Athletica Inc. has a fifty-two week low of $326.93 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $4.40 EPS. Equities analysts forecast that Lululemon Athletica Inc. will post 14.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LULU shares. Evercore ISI decreased their price objective on shares of Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Jefferies Financial Group lowered their price objective on Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating on the stock in a report on Thursday, April 4th. Piper Sandler cut their price objective on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Truist Financial decreased their target price on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Finally, TD Cowen dropped their price target on Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $476.57.

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.