Michelle Sun Choe Sells 27,981 Shares of Lululemon Athletica Inc. (NASDAQ:LULU) Stock

Lululemon Athletica Inc. (NASDAQ:LULU) insider Michelle Sun Choe sold 27,981 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $401.00, for a total transaction of $11,220,381.00. Following the completion of the sale, the insider now directly owns 3,892 shares in the company, valued at $1,560,692. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Lululemon Athletica Stock Down 0.7 %

Lululemon Athletica stock opened at $396.36 on Friday. The stock has a market cap of $50.36 billion, a P/E ratio of 50.17, a P/E/G ratio of 1.77 and a beta of 1.39. Lululemon Athletica Inc. has a twelve month low of $277.50 and a twelve month high of $406.94. The company’s 50-day moving average price is $381.20 and its two-hundred day moving average price is $361.85.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.14. Lululemon Athletica had a net margin of 11.40% and a return on equity of 44.47%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the firm earned $2.20 EPS. The business’s revenue was up 17.8% on a year-over-year basis. Equities analysts anticipate that Lululemon Athletica Inc. will post 12.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lululemon Athletica from $465.00 to $471.00 in a research report on Friday, June 2nd. Robert W. Baird boosted their price target on shares of Lululemon Athletica from $430.00 to $455.00 in a research report on Friday, September 1st. Wells Fargo & Company boosted their price target on shares of Lululemon Athletica from $425.00 to $445.00 and gave the stock an “overweight” rating in a research report on Friday, September 1st. Piper Sandler boosted their price target on shares of Lululemon Athletica from $450.00 to $455.00 and gave the stock an “overweight” rating in a research report on Friday, September 1st. Finally, Wedbush boosted their price target on shares of Lululemon Athletica from $415.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $438.62.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. FORA Capital LLC increased its holdings in shares of Lululemon Athletica by 1,152.5% during the first quarter. FORA Capital LLC now owns 34,808 shares of the apparel retailer’s stock worth $12,677,000 after purchasing an additional 32,029 shares during the period. Spire Wealth Management increased its holdings in shares of Lululemon Athletica by 45.8% during the first quarter. Spire Wealth Management now owns 4,171 shares of the apparel retailer’s stock worth $1,519,000 after purchasing an additional 1,311 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Lululemon Athletica by 91.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 1,870 shares of the apparel retailer’s stock worth $599,000 after purchasing an additional 893 shares during the period. Simplicity Solutions LLC increased its stake in Lululemon Athletica by 124.3% in the first quarter. Simplicity Solutions LLC now owns 3,070 shares of the apparel retailer’s stock valued at $1,118,000 after acquiring an additional 1,701 shares during the last quarter. Finally, Janiczek Wealth Management LLC increased its stake in Lululemon Athletica by 126.5% in the first quarter. Janiczek Wealth Management LLC now owns 77 shares of the apparel retailer’s stock valued at $28,000 after acquiring an additional 43 shares during the last quarter. 91.50% of the stock is owned by institutional investors.

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.