Envestnet Asset Management Inc. Purchases 24,892 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Envestnet Asset Management Inc. boosted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,845 shares of the apparel retailer’s stock after buying an additional 24,892 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of Lululemon Athletica worth $109,848,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Valley National Advisers Inc. raised its stake in Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Tidemark LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $26,000. Morton Brown Family Wealth LLC bought a new position in shares of Lululemon Athletica in the 4th quarter valued at about $31,000. Johnson Financial Group Inc. purchased a new position in Lululemon Athletica in the fourth quarter worth about $39,000. Finally, Farmers & Merchants Investments Inc. bought a new stake in Lululemon Athletica during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Martha A. M. Morfitt purchased 700 shares of the stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at $194,645. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Stock Down 1.6 %

Shares of NASDAQ:LULU opened at $317.86 on Friday. The firm has a 50 day moving average of $340.49 and a 200 day moving average of $422.82. The company has a market capitalization of $40.05 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. Lululemon Athletica Inc. has a 52 week low of $293.03 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last released its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company posted $2.28 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, sell-side analysts expect that Lululemon Athletica Inc. will post 14.25 EPS for the current year.

Analyst Upgrades and Downgrades

LULU has been the subject of several analyst reports. Jefferies Financial Group lowered their price objective on Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating for the company in a research note on Thursday, April 4th. HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $405.00 to $425.00 in a research note on Thursday. Telsey Advisory Group lowered their target price on shares of Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating for the company in a report on Thursday. Wedbush lifted their price target on shares of Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Sanford C. Bernstein increased their price objective on shares of Lululemon Athletica from $376.00 to $382.00 and gave the stock a “market perform” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and an average price target of $437.74.

Check Out Our Latest Analysis on Lululemon Athletica

Lululemon Athletica Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with MarketBeat.com's FREE daily email newsletter.