Sovran Advisors LLC Buys Shares of 987 Lululemon Athletica Inc. (NASDAQ:LULU)

Sovran Advisors LLC acquired a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 987 shares of the apparel retailer’s stock, valued at approximately $384,000.

Several other hedge funds have also recently made changes to their positions in LULU. JFS Wealth Advisors LLC grew its position in Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 65 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Lululemon Athletica by 309.5% in the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after buying an additional 65 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Lululemon Athletica in the fourth quarter valued at about $36,000. Ameliora Wealth Management Ltd. bought a new position in Lululemon Athletica in the fourth quarter valued at about $38,000. Finally, Stonebridge Financial Group LLC bought a new position in Lululemon Athletica in the fourth quarter valued at about $44,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total value 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. This represents a 66.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Lululemon Athletica Stock Down 0.6 %

Shares of NASDAQ:LULU opened at $395.16 on Thursday. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $480.94. The firm has a fifty day simple moving average of $390.05 and a two-hundred day simple moving average of $318.66. The stock has a market capitalization of $48.12 billion, a P/E ratio of 28.53, a PEG ratio of 2.51 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the business posted $2.53 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LULU. Piper Sandler upped their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Telsey Advisory Group boosted their target price on shares of Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a research report on Tuesday, January 14th. Evercore ISI lifted their price target on shares of Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Barclays raised their target price on Lululemon Athletica from $378.00 to $411.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Robert W. Baird upped their price target on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and an average target price of $399.14.

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.