Investors Purchase Large Volume of Put Options on Lululemon Athletica (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULU) was the recipient of unusually large options trading on Thursday. Stock traders acquired 73,786 put options on the stock. This represents an increase of 106% compared to the average volume of 35,735 put options.

Insider Buying and Selling

In related news, Director Martha A. M. Morfitt bought 700 shares of the stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds have recently modified their holdings of the business. Deltec Asset Management LLC acquired a new position in Lululemon Athletica in the first quarter valued at $586,000. Silverleafe Capital Partners LLC boosted its position in shares of Lululemon Athletica by 54.5% during the 1st quarter. Silverleafe Capital Partners LLC now owns 1,700 shares of the apparel retailer’s stock worth $664,000 after purchasing an additional 600 shares in the last quarter. Asio Capital LLC boosted its position in shares of Lululemon Athletica by 6.7% during the 1st quarter. Asio Capital LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,196,000 after purchasing an additional 352 shares in the last quarter. Dohj LLC boosted its position in shares of Lululemon Athletica by 3.5% during the 1st quarter. Dohj LLC now owns 2,063 shares of the apparel retailer’s stock worth $806,000 after purchasing an additional 70 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in shares of Lululemon Athletica by 21.7% during the 1st quarter. 180 Wealth Advisors LLC now owns 1,354 shares of the apparel retailer’s stock worth $529,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $344.86 on Thursday. The stock has a market cap of $43.46 billion, a PE ratio of 28.24, a PEG ratio of 1.18 and a beta of 1.30. The firm’s fifty day moving average price is $424.95 and its two-hundred day moving average price is $439.26. Lululemon Athletica has a fifty-two week low of $326.93 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. Lululemon Athletica’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.40 earnings per share. As a group, sell-side analysts predict that Lululemon Athletica will post 14.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LULU shares. Truist Financial reduced their target price on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Piper Sandler lowered their price target on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. BMO Capital Markets lifted their price objective on Lululemon Athletica from $408.00 to $420.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Sanford C. Bernstein boosted their price target on Lululemon Athletica from $400.00 to $430.00 and gave the stock a “market perform” rating in a research report on Thursday, January 4th. Finally, Robert W. Baird lifted their price objective on Lululemon Athletica from $520.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $485.39.

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.