Lululemon Athletica Inc. (NASDAQ:LULU) Short Interest Update

Lululemon Athletica Inc. (NASDAQ:LULU) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 6,760,000 shares, an increase of 19.2% from the February 13th total of 5,670,000 shares. Approximately 6.4% of the company’s stock are short sold. Based on an average trading volume of 1,840,000 shares, the days-to-cover ratio is presently 3.7 days.

Insider Activity

In related news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the transaction, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LULU. Price T Rowe Associates Inc. MD increased its position in Lululemon Athletica by 95.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock worth $1,854,160,000 after buying an additional 2,371,079 shares during the period. Mawer Investment Management Ltd. acquired a new position in Lululemon Athletica during the fourth quarter worth approximately $523,520,000. Diamond Hill Capital Management Inc. acquired a new position in Lululemon Athletica during the fourth quarter worth approximately $370,062,000. Alliancebernstein L.P. increased its position in Lululemon Athletica by 14.9% during the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after buying an additional 571,657 shares during the period. Finally, Capital World Investors increased its position in Lululemon Athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock worth $827,338,000 after buying an additional 556,406 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LULU shares. Jefferies Financial Group restated an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a research report on Monday, December 2nd. UBS Group upped their price objective on Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Piper Sandler increased their target price on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. TD Cowen increased their target price on Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Finally, Truist Financial raised their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $398.83.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU traded up $6.50 during midday trading on Wednesday, hitting $329.57. 1,097,892 shares of the company’s stock were exchanged, compared to its average volume of 2,160,379. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $480.94. The company has a market cap of $40.14 billion, a PE ratio of 23.80, a P/E/G ratio of 2.22 and a beta of 1.21. The firm’s fifty day simple moving average is $374.01 and its 200-day simple moving average is $336.06.

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.