Lululemon Athletica (NASDAQ:LULU) Shares Up 0.5% on Insider Buying Activity

Lululemon Athletica Inc. (NASDAQ:LULU - Get Free Report) traded up 0.5% during trading on Friday after an insider bought additional shares in the company. The company traded as high as $265.60 and last traded at $254.90. 671,616 shares changed hands during trading, a decline of 69% from the average session volume of 2,133,204 shares. The stock had previously closed at $253.70.

Specifically, CEO Calvin Mcdonald bought 4,000 shares of the firm'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 transaction, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BMO Capital Markets decreased their target price on Lululemon Athletica from $420.00 to $384.00 and set a "market perform" rating for the company in a research report on Thursday, June 6th. HSBC upgraded Lululemon Athletica from a "hold" rating to a "buy" rating and lifted their target price for the stock from $405.00 to $425.00 in a research report on Thursday, June 6th. Oppenheimer reiterated an "outperform" rating and issued a $445.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 6th. TD Cowen decreased their target price on Lululemon Athletica from $420.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. Finally, Sanford C. Bernstein reduced their price objective on Lululemon Athletica from $345.00 to $325.00 and set a "market perform" rating for the company in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $354.94.

Lululemon Athletica Stock Performance

The stock has a 50 day moving average price of $266.51 and a 200 day moving average price of $332.93. The company has a market cap of $31.73 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping analysts' consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.69% and a net margin of 16.34%. The company's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 EPS. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 13.9 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tidemark LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at $26,000. Scarborough Advisors LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at $26,000. Richardson Financial Services Inc. purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at $31,000. True Wealth Design LLC grew its holdings in shares of Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer's stock valued at $31,000 after buying an additional 59 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in shares of Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer's stock valued at $27,000 after buying an additional 44 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

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.