Lululemon Athletica (NASDAQ:LULU) Shares Gap Up – Here’s What Happened

Lululemon Athletica Inc. (NASDAQ:LULU) shares gapped up before the market opened on Tuesday . The stock had previously closed at $334.96, but opened at $342.50. Lululemon Athletica shares last traded at $337.09, with a volume of 906,224 shares traded.

Wall Street Analyst Weigh In

LULU has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Sanford C. Bernstein raised shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $360.00 to $460.00 in a research report on Tuesday, January 7th. Evercore ISI lifted their price objective on shares of Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Truist Financial increased their target price on shares of Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, BMO Capital Markets boosted their price target on Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. One equities 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’s stock. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average price target of $397.10.

Lululemon Athletica Trading Up 0.6 %

The firm has a 50 day moving average price of $368.64 and a 200-day moving average price of $338.07. The firm has a market cap of $41.06 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 2.22 and a beta of 1.21.

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 2,022 shares of the 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 sale, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently bought and sold shares of the stock. TCTC Holdings LLC acquired a new position in shares of Lululemon Athletica in the fourth quarter valued at approximately $26,000. Anderson Financial Strategies LLC acquired a new position in Lululemon Athletica in the 4th quarter valued at $30,000. Kestra Investment Management LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter worth $32,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth $32,000. Finally, Sound Income Strategies LLC grew its position in shares of Lululemon Athletica by 309.5% in the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.