Pallas Capital Advisors LLC Purchases New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Pallas Capital Advisors LLC purchased a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 733 shares of the apparel retailer's stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. grew its stake in Lululemon Athletica by 29.6% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 1,394 shares of the apparel retailer's stock valued at $416,000 after purchasing an additional 318 shares during the period. Dimensional Fund Advisors LP increased its holdings in Lululemon Athletica by 38.2% during the second quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer's stock worth $220,423,000 after buying an additional 203,882 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in Lululemon Athletica by 10.2% in the second quarter. Citizens Financial Group Inc. RI now owns 841 shares of the apparel retailer's stock worth $251,000 after acquiring an additional 78 shares during the period. Edgestream Partners L.P. purchased a new position in Lululemon Athletica in the second quarter valued at about $2,751,000. Finally, Axxcess Wealth Management LLC grew its position in shares of Lululemon Athletica by 52.3% during the 2nd quarter. Axxcess Wealth Management LLC now owns 1,467 shares of the apparel retailer's stock valued at $438,000 after acquiring an additional 504 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Down 1.5 %

Shares of LULU stock traded down $5.67 during trading hours on Thursday, hitting $370.99. 1,804,097 shares of the company's stock were exchanged, compared to its average volume of 1,687,160. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $491.30. The company has a market capitalization of $45.18 billion, a PE ratio of 26.79, a PEG ratio of 2.71 and a beta of 1.18. The business's 50 day simple moving average is $360.19 and its 200-day simple moving average is $303.57.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion during 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%. The company's revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.53 earnings per share. Equities analysts anticipate that Lululemon Athletica Inc. will post 14.18 EPS for the current year.

Insider Buying and Selling

In related news, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the 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 sale, the insider now owns 12,429 shares of the company's stock, valued at approximately $5,040,456.66. This 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

LULU has been the topic of several research analyst reports. KeyCorp upped their price objective on Lululemon Athletica from $350.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Sanford C. Bernstein raised Lululemon Athletica from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $360.00 to $460.00 in a report on Tuesday, January 7th. Truist Financial upped their price objective on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a "buy" rating in a report on Friday, January 10th. Stifel Nicolaus reiterated a "buy" rating and issued a $438.00 target price (up previously from $370.00) on shares of Lululemon Athletica in a research note on Friday, December 6th. Finally, Telsey Advisory Group upped their price target on shares of Lululemon Athletica from $430.00 to $445.00 and gave the company an "outperform" rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eight have given 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 $390.33.

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.