Avanza Fonder AB Purchases New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Avanza Fonder AB acquired a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,797 shares of the apparel retailer's stock, valued at approximately $3,364,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Lululemon Athletica by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer's stock worth $669,036,000 after purchasing an additional 44,294 shares during the period. Legal & General Group Plc raised its stake in shares of Lululemon Athletica by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer's stock worth $310,763,000 after purchasing an additional 37,239 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Lululemon Athletica by 74,856.2% during the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer's stock worth $243,055,000 after buying an additional 894,531 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Lululemon Athletica by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 702,294 shares of the apparel retailer's stock valued at $190,567,000 after purchasing an additional 19,808 shares during the period. Finally, Montrusco Bolton Investments Inc. grew its holdings in Lululemon Athletica by 43.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 611,814 shares of the apparel retailer's stock valued at $166,016,000 after buying an additional 185,440 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Price Performance

LULU traded up $2.71 during trading hours on Friday, hitting $373.70. 1,340,496 shares of the stock were exchanged, compared to its average volume of 1,265,866. The stock has a market cap of $45.51 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $491.30. The stock has a 50-day simple moving average of $362.61 and a 200-day simple moving average of $304.54.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica's revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.53 earnings per share. Sell-side analysts expect that Lululemon Athletica Inc. will post 14.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LULU shares. Truist Financial boosted their price target on Lululemon Athletica from $420.00 to $460.00 and gave the company a "buy" rating in a research note on Friday, January 10th. BMO Capital Markets upped their target price on Lululemon Athletica from $265.00 to $302.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. UBS Group lifted their price target on shares of Lululemon Athletica from $315.00 to $360.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Needham & Company LLC upgraded shares of Lululemon Athletica from a "hold" rating to a "buy" rating and set a $475.00 price target on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company raised their target price on Lululemon Athletica from $350.00 to $375.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $390.33.

Insider Buying and Selling at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of the business's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Celeste Burgoyne sold 24,870 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the transaction, the insider now directly owns 12,429 shares of the company's stock, valued at $5,040,456.66. The trade was a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% 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.