Flagship Harbor Advisors LLC Sells 93 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Flagship Harbor Advisors LLC decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 780 shares of the apparel retailer’s stock after selling 93 shares during the period. Flagship Harbor Advisors LLC’s holdings in Lululemon Athletica were worth $298,000 as of its most recent SEC filing.

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

Insider Activity

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

Analyst Upgrades and Downgrades

LULU has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Evercore ISI lifted their target price on shares of Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Needham & Company LLC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price target for the company in a report on Friday, January 10th. Finally, Citigroup raised their price target on shares of Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $395.67.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $411.16 on Thursday. The company’s 50-day moving average price is $372.62 and its two-hundred day moving average price is $309.37. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $491.30. The stock has a market capitalization of $50.07 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 2.50 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm posted $2.53 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts anticipate that Lululemon Athletica Inc. will post 14.34 earnings per share for the current fiscal 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.