Plato Investment Management Ltd Purchases Shares of 3,878 Lululemon Athletica Inc. (NASDAQ:LULU)

Plato Investment Management Ltd purchased a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,878 shares of the apparel retailer’s stock, valued at approximately $1,051,000.

A number of other institutional investors also recently modified their holdings of the company. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Lululemon Athletica by 15.8% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 1,535 shares of the apparel retailer’s stock worth $417,000 after purchasing an additional 209 shares during the period. RPG Investment Advisory LLC purchased a new stake in shares of Lululemon Athletica during the third quarter worth about $7,599,000. Victory Capital Management Inc. boosted its holdings in shares of Lululemon Athletica by 11.3% during the third quarter. Victory Capital Management Inc. now owns 103,577 shares of the apparel retailer’s stock worth $28,106,000 after purchasing an additional 10,499 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in shares of Lululemon Athletica by 88.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,840 shares of the apparel retailer’s stock worth $1,856,000 after purchasing an additional 3,212 shares during the period. Finally, Winslow Asset Management Inc. boosted its holdings in shares of Lululemon Athletica by 1.2% during the third quarter. Winslow Asset Management Inc. now owns 51,488 shares of the apparel retailer’s stock worth $13,971,000 after purchasing an additional 598 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LULU. Truist Financial increased their target price on shares of Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. KeyCorp lowered their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Piper Sandler raised their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Morgan Stanley lowered their price objective on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Barclays lowered their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $357.13.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated 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 directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The trade was a 4.66 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Up 0.6 %

Shares of LULU stock opened at $330.26 on Friday. The stock has a market cap of $40.55 billion, a P/E ratio of 25.52, a PEG ratio of 2.39 and a beta of 1.24. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The company’s fifty day simple moving average is $283.50 and its two-hundred day simple moving average is $290.42.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company earned $2.68 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

About Lululemon Athletica

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.