2,915 Shares in Lululemon Athletica Inc. (NASDAQ:LULU) Purchased by Meridian Wealth Management LLC

Meridian Wealth Management LLC purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, Holdings Channel reports. The firm purchased 2,915 shares of the apparel retailer’s stock, valued at approximately $791,000.

Other large investors have also modified their holdings of the company. Shepherd Financial Partners LLC purchased a new position in Lululemon Athletica during the third quarter worth approximately $953,000. XTX Topco Ltd boosted its holdings in Lululemon Athletica by 281.4% in the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after acquiring an additional 6,562 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after acquiring an additional 3,721 shares during the period. Gateway Investment Advisers LLC increased its stake in Lululemon Athletica by 9.7% during the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after acquiring an additional 3,077 shares during the last quarter. Finally, Rheos Capital Works Inc. raised its holdings in shares of Lululemon Athletica by 19.2% in the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after purchasing an additional 2,500 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LULU shares. Telsey Advisory Group dropped their target price on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research report on Monday, August 26th. Evercore ISI reissued an “outperform” rating and issued a $300.00 target price on shares of Lululemon Athletica in a research note on Monday, August 26th. Citigroup decreased their price target on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. TD Securities raised their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Raymond James decreased their target price on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, September 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.13.

Lululemon Athletica Trading Up 0.6 %

LULU opened at $317.11 on Friday. The business’s 50 day moving average is $291.83 and its 200-day moving average is $288.45. The stock has a market cap of $38.93 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.24. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $2.68 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

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.