Prime Capital Investment Advisors LLC Raises Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Prime Capital Investment Advisors LLC increased its stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 88.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,840 shares of the apparel retailer's stock after purchasing an additional 3,212 shares during the period. Prime Capital Investment Advisors LLC's holdings in Lululemon Athletica were worth $1,856,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC increased its holdings in shares of Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer's stock worth $29,000 after buying an additional 43 shares in the last quarter. Versant Capital Management Inc boosted its position in Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer's stock valued at $31,000 after acquiring an additional 40 shares during the last quarter. Paladin Wealth LLC bought a new position in shares of Lululemon Athletica in the 3rd quarter worth about $29,000. Ridgewood Investments LLC acquired a new position in shares of Lululemon Athletica in the 2nd quarter valued at about $33,000. Finally, Dnca Finance acquired a new position in shares of Lululemon Athletica during the 2nd quarter valued at $34,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LULU has been the subject of a number of research reports. 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 note on Friday, August 30th. Jefferies Financial Group reissued an "underperform" rating and issued a $220.00 target price on shares of Lululemon Athletica in a research report on Thursday, July 25th. Piper Sandler increased their target price on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Evercore ISI reaffirmed an "outperform" rating and set a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday, August 26th. Finally, Bank of America lowered their price objective on Lululemon Athletica from $440.00 to $355.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $357.13.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the company'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 transaction, the insider now owns 6,198 shares of the company's stock, valued at approximately $1,670,918.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Calvin Mcdonald purchased 4,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares of the company's stock, valued at $23,379,720. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is owned by corporate insiders.

Lululemon Athletica Stock Performance

NASDAQ LULU traded up $3.73 on Thursday, reaching $332.03. The stock had a trading volume of 1,059,879 shares, compared to its average volume of 2,097,416. The stock has a market cap of $40.77 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. The business's 50-day moving average price is $283.50 and its 200 day moving average price is $290.42. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company posted $2.68 earnings per share. The business's revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts predict that Lululemon Athletica Inc. will post 14.02 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.