Galvin Gaustad & Stein LLC Buys New Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Galvin Gaustad & Stein LLC bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 75,525 shares of the apparel retailer's stock, valued at approximately $20,494,000. Lululemon Athletica accounts for about 1.8% of Galvin Gaustad & Stein LLC's investment portfolio, making the stock its 19th biggest holding. Galvin Gaustad & Stein LLC owned approximately 0.06% of Lululemon Athletica at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in shares of Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer's stock worth $29,000 after purchasing an additional 43 shares during the period. Paladin Wealth LLC bought a new position in Lululemon Athletica in the 3rd quarter worth $29,000. Versant Capital Management Inc increased its stake in Lululemon Athletica by 61.5% in the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer's stock worth $31,000 after buying an additional 40 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer's stock valued at $31,000 after acquiring an additional 65 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in shares of Lululemon Athletica in the second quarter valued at about $33,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the company's stock in a transaction on Thursday, September 26th. The stock was 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 owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Calvin Mcdonald purchased 4,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company's stock.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU traded down $6.77 on Friday, hitting $308.53. 1,957,866 shares of the company's stock were exchanged, compared to its average volume of 1,976,679. The business's 50 day simple moving average is $279.60 and its two-hundred day simple moving average is $291.78. The stock has a market capitalization of $37.88 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the previous year, the company earned $2.68 EPS. The firm's quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LULU. TD Securities increased their target price on Lululemon Athletica from $375.00 to $382.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. UBS Group reduced their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 20th. Piper Sandler upped their target price on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Truist Financial raised their target price on shares of Lululemon Athletica from $310.00 to $360.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Citigroup dropped their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a "neutral" rating for the company in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.