Orion Portfolio Solutions LLC Has $3.01 Million Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Orion Portfolio Solutions LLC increased its stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 63.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,107 shares of the apparel retailer's stock after acquiring an additional 4,318 shares during the period. Orion Portfolio Solutions LLC's holdings in Lululemon Athletica were worth $3,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. National Bank of Canada FI lifted its stake in Lululemon Athletica by 77.4% during the third quarter. National Bank of Canada FI now owns 133,609 shares of the apparel retailer's stock valued at $36,255,000 after purchasing an additional 58,298 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in Lululemon Athletica by 3.1% during the third quarter. iA Global Asset Management Inc. now owns 13,371 shares of the apparel retailer's stock valued at $3,628,000 after purchasing an additional 406 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Lululemon Athletica by 14.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 2,826 shares of the apparel retailer's stock valued at $767,000 after acquiring an additional 360 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Lululemon Athletica by 10.7% in the 3rd quarter. Wahed Invest LLC now owns 2,931 shares of the apparel retailer's stock valued at $795,000 after acquiring an additional 284 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Lululemon Athletica in the 3rd quarter valued at approximately $1,863,000. 85.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LULU has been the subject of several research analyst reports. Citigroup upped their price target on shares of Lululemon Athletica from $270.00 to $380.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Sanford C. Bernstein reduced their price target on shares of 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. Needham & Company LLC reiterated a "hold" rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Truist Financial lifted their target price on shares of Lululemon Athletica from $360.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, TD Cowen lifted their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $377.63.

Insider Buying and Selling

In related news, insider Nicole Neuburger sold 486 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were 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 directly owns 6,198 shares of the company's stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Celeste Burgoyne sold 24,870 shares of the business's stock in a transaction that occurred on 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 sale, the insider now directly owns 12,429 shares of the company's stock, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica Price Performance

Shares of LULU stock traded up $2.65 during trading hours on Wednesday, reaching $399.75. 1,358,934 shares of the company were exchanged, compared to its average volume of 2,127,332. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The stock's fifty day moving average is $311.07 and its two-hundred day moving average is $289.39. The company has a market cap of $49.08 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 2.87 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the business earned $2.53 earnings per share. Lululemon Athletica's quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts anticipate that Lululemon Athletica Inc. will post 14.19 earnings per share for the current year.

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.