KLP Kapitalforvaltning AS Invests $14.84 Million in Lululemon Athletica Inc. (NASDAQ:LULU)

KLP Kapitalforvaltning AS acquired a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 38,800 shares of the apparel retailer's stock, valued at approximately $14,838,000.

A number of other hedge funds have also recently bought and sold shares of LULU. Beacon Capital Management LLC boosted its holdings in Lululemon Athletica by 6.9% in the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer's stock valued at $142,000 after purchasing an additional 24 shares during the period. Edgestream Partners L.P. raised its position in shares of Lululemon Athletica by 0.7% in the fourth quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer's stock valued at $1,353,000 after buying an additional 25 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Lululemon Athletica by 2.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer's stock valued at $389,000 after buying an additional 26 shares during the period. Capital Advisors Ltd. LLC grew its position in Lululemon Athletica by 9.4% during the fourth quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer's stock worth $124,000 after buying an additional 28 shares in the last quarter. Finally, LGT Fund Management Co Ltd. increased its stake in Lululemon Athletica by 3.3% during the 4th quarter. LGT Fund Management Co Ltd. now owns 930 shares of the apparel retailer's stock worth $356,000 after acquiring an additional 30 shares during the period. 85.20% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is owned by insiders.

Lululemon Athletica Stock Up 0.7 %

LULU traded up $2.39 during midday trading on Tuesday, hitting $337.35. 2,039,602 shares of the company were exchanged, compared to its average volume of 2,068,057. The firm has a market capitalization of $41.08 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.22 and a beta of 1.21. The firm's 50 day moving average price is $368.64 and its 200-day moving average price is $338.07. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $423.32.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LULU shares. William Blair reiterated an "outperform" rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Guggenheim upped their price objective on shares of Lululemon Athletica from $350.00 to $415.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Piper Sandler raised their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Raymond James reaffirmed an "outperform" rating and set a $430.00 price target (up previously from $400.00) on shares of Lululemon Athletica in a report on Wednesday, January 15th. Finally, Citigroup decreased their price objective on shares of Lululemon Athletica from $380.00 to $330.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Lululemon Athletica presently has an average rating of "Moderate Buy" and a consensus target price of $397.10.

Lululemon Athletica 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.