KLP Kapitalforvaltning AS Buys New Shares in Lululemon Athletica Inc. (NASDAQ:LULU)

KLP Kapitalforvaltning AS bought a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 38,800 shares of the apparel retailer’s stock, valued at approximately $14,838,000.

Several other large investors have also recently bought and sold shares of LULU. Diamond Hill Capital Management Inc. acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at $370,062,000. Maverick Capital Ltd. acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at $93,476,000. The Manufacturers Life Insurance Company raised its stake in shares of Lululemon Athletica by 136.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock valued at $143,624,000 after buying an additional 305,302 shares in the last quarter. Southpoint Capital Advisors LP acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at $81,405,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of Lululemon Athletica by 248.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 323,031 shares of the apparel retailer’s stock valued at $123,530,000 after buying an additional 230,349 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LULU. Piper Sandler increased their price objective on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Robert W. Baird increased their price objective on shares of Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Evercore ISI upped their target price on shares of Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Raymond James reaffirmed an “outperform” rating and issued a $430.00 target price (up previously from $400.00) on shares of Lululemon Athletica in a report on Wednesday, January 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $438.00 target price (up previously from $370.00) on shares of Lululemon Athletica in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given 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 $397.10.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $322.62 on Monday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $423.32. The company has a 50 day moving average of $369.92 and a 200-day moving average of $337.50. The stock has a market cap of $39.29 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 2.22 and a beta of 1.21.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of the business’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 transaction of $782,736.42. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is owned by corporate insiders.

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.