Deepwater Asset Management LLC Decreases Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Deepwater Asset Management LLC lessened its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 28.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,805 shares of the apparel retailer’s stock after selling 14,569 shares during the period. Lululemon Athletica comprises approximately 4.5% of Deepwater Asset Management LLC’s holdings, making the stock its 18th biggest holding. Deepwater Asset Management LLC’s holdings in Lululemon Athletica were worth $13,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LULU. International Assets Investment Management LLC boosted its stake in shares of Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after purchasing an additional 894,531 shares during the period. Maverick Capital Ltd. purchased a new position in Lululemon Athletica in the 3rd quarter valued at about $93,476,000. The Manufacturers Life Insurance Company boosted its position in Lululemon Athletica by 136.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock valued at $143,624,000 after buying an additional 305,302 shares during the last quarter. Southpoint Capital Advisors LP purchased a new stake in shares of Lululemon Athletica during the third quarter worth about $81,405,000. Finally, River Road Asset Management LLC acquired a new position in shares of Lululemon Athletica in the third quarter worth about $79,503,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 1.7 %

Shares of Lululemon Athletica stock opened at $414.20 on Monday. The business has a fifty day simple moving average of $378.74 and a 200-day simple moving average of $311.90. The firm has a market cap of $50.44 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.70 and a beta of 1.19. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.53 earnings per share. Analysts anticipate that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares of the company’s stock, valued at $5,040,456.66. The trade was a 66.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LULU. Citigroup increased their target price on Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. TD Securities raised their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Telsey Advisory Group upped their target price on shares of Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Guggenheim lifted their price target on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial upped their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $395.67.

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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.