Peregrine Investment Management Inc. Acquires New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Peregrine Investment Management Inc. bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,600 shares of the apparel retailer's stock, valued at approximately $4,818,000. Lululemon Athletica accounts for about 2.8% of Peregrine Investment Management Inc.'s holdings, making the stock its 18th biggest position.

Several other hedge funds also recently made changes to their positions in the company. Shepherd Financial Partners LLC bought a new stake in Lululemon Athletica in the third quarter valued at $953,000. Investment Partners Asset Management Inc. bought a new stake in Lululemon Athletica in the fourth quarter valued at $275,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Lululemon Athletica by 198.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer's stock valued at $1,844,000 after acquiring an additional 4,564 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Lululemon Athletica by 50.5% in the third quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer's stock valued at $28,070,000 after acquiring an additional 34,704 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in Lululemon Athletica by 876.8% in the third quarter. Rakuten Securities Inc. now owns 2,022 shares of the apparel retailer's stock valued at $549,000 after acquiring an additional 1,815 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LULU shares. William Blair reiterated an "outperform" rating on shares of Lululemon Athletica in a report on Friday, December 6th. Needham & Company LLC upgraded shares of Lululemon Athletica from a "hold" rating to a "buy" rating and set a $475.00 price target on the stock in a report on Friday, January 10th. Stifel Nicolaus restated a "buy" rating and set a $438.00 target price (up previously from $370.00) on shares of Lululemon Athletica in a report on Friday, December 6th. Guggenheim boosted their target price on shares of Lululemon Athletica from $350.00 to $415.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, TD Cowen boosted their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica currently has an average rating of "Moderate Buy" and an average target price of $399.14.

Lululemon Athletica Trading Down 1.3 %

NASDAQ:LULU traded down $4.92 during mid-day trading on Wednesday, reaching $367.52. The company's stock had a trading volume of 1,422,199 shares, compared to its average volume of 1,625,625. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $480.94. The firm's fifty day moving average price is $390.12 and its two-hundred day moving average price is $323.12. The stock has a market cap of $44.76 billion, a P/E ratio of 26.54, a PEG ratio of 2.23 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $2.53 EPS. Lululemon Athletica's revenue was up 9.1% on a year-over-year basis. Analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the company's stock in a transaction dated 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 sale, the insider now owns 6,198 shares of the company's stock, valued at $2,399,307.78. This represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the company's stock in a transaction dated Monday, December 9th. The shares were 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 $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

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.