SVB Wealth LLC Acquires Shares of 419 Lululemon Athletica Inc. (NASDAQ:LULU)

SVB Wealth LLC acquired a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 419 shares of the apparel retailer’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LULU. International Assets Investment Management LLC grew its stake in Lululemon Athletica by 51,219.6% in the fourth quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock worth $351,868,000 after purchasing an additional 686,855 shares in the last quarter. Morgan Stanley raised its holdings in Lululemon Athletica by 29.2% during the third quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after purchasing an additional 437,069 shares in the last quarter. Schroder Investment Management Group raised its holdings in Lululemon Athletica by 20.0% during the third quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock worth $719,198,000 after purchasing an additional 310,347 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Lululemon Athletica in the third quarter valued at $71,483,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Lululemon Athletica by 34.5% in the third quarter. Ameriprise Financial Inc. now owns 668,087 shares of the apparel retailer’s stock valued at $257,627,000 after buying an additional 171,227 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LULU has been the topic of several research reports. Truist Financial dropped their price target on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Wells Fargo & Company lowered their price target on shares of Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating on the stock in a report on Friday, March 22nd. Wedbush decreased their price objective on shares of Lululemon Athletica from $548.00 to $492.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Citigroup decreased their price objective on shares of Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Piper Sandler cut their target price on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price of $483.61.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of the stock in a transaction on Tuesday, March 26th. The stock was purchased at an average price of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at $194,645. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.

Lululemon Athletica Trading Up 0.8 %

NASDAQ LULU opened at $364.68 on Wednesday. The firm has a market cap of $45.95 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.25 and a beta of 1.30. The company has a 50 day moving average of $416.17 and a 200-day moving average of $439.37. Lululemon Athletica Inc. has a 1-year low of $326.93 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The business had revenue of $3.21 billion during 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 for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.40 earnings per share. On average, analysts forecast that Lululemon Athletica Inc. will post 14.15 earnings per share for the current year.

Lululemon Athletica 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.