Plato Investment Management Ltd Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Plato Investment Management Ltd purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,878 shares of the apparel retailer's stock, valued at approximately $1,051,000.

Several other institutional investors also recently modified their holdings of LULU. Larson Financial Group LLC increased its position in shares of Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer's stock worth $29,000 after acquiring an additional 43 shares in the last quarter. Paladin Wealth LLC bought a new position in shares of Lululemon Athletica in the third quarter valued at about $29,000. Versant Capital Management Inc lifted its position in Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 40 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer's stock valued at $31,000 after purchasing an additional 65 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Lululemon Athletica in the second quarter valued at about $33,000. Institutional investors and hedge funds own 85.20% of the company's stock.

Insider Buying and Selling

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the firm's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value 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 7.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Calvin Mcdonald acquired 4,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares of the company's stock, valued at $23,379,720. This trade represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LULU shares. Morgan Stanley decreased their price target on Lululemon Athletica from $326.00 to $314.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 1st. Wedbush decreased their price objective on shares of Lululemon Athletica from $400.00 to $324.00 and set an "outperform" rating for the company in a research report on Wednesday, August 28th. Truist Financial raised their price objective on shares of Lululemon Athletica from $310.00 to $360.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Bank of America reduced their price objective on Lululemon Athletica from $440.00 to $355.00 and set a "buy" rating for the company in a research note on Friday, August 30th. Finally, Evercore ISI reissued an "outperform" rating and set a $300.00 target price on shares of Lululemon Athletica in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $357.13.

Lululemon Athletica Price Performance

NASDAQ:LULU traded down $10.25 during midday trading on Friday, hitting $320.01. The company's stock had a trading volume of 1,263,779 shares, compared to its average volume of 2,095,999. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The firm's 50 day moving average is $285.03 and its 200-day moving average is $290.70. The firm has a market cap of $39.29 billion, a P/E ratio of 25.26, a P/E/G ratio of 2.39 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) 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 company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm's revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.68 earnings per share. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

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.