Lululemon Athletica Inc. (NASDAQ:LULU) Sees Significant Growth in Short Interest

Lululemon Athletica Inc. (NASDAQ:LULU) was the recipient of a large increase in short interest during the month of 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. Based on an average daily volume of 1,840,000 shares, the short-interest ratio is currently 3.7 days. Currently, 6.4% of the shares of the stock are sold short.

Insider Buying and Selling

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was 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 trade represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Lululemon Athletica by 11.3% during the third quarter. Victory Capital Management Inc. now owns 103,577 shares of the apparel retailer’s stock worth $28,106,000 after purchasing an additional 10,499 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Lululemon Athletica by 178.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,277 shares of the apparel retailer’s stock valued at $1,703,000 after purchasing an additional 4,024 shares during the last quarter. Claro Advisors LLC purchased a new stake in shares of Lululemon Athletica during the 3rd quarter valued at $232,000. Quest Partners LLC increased its holdings in shares of Lululemon Athletica by 82.3% during the 3rd quarter. Quest Partners LLC now owns 3,060 shares of the apparel retailer’s stock worth $830,000 after buying an additional 1,381 shares during the last quarter. Finally, WP Advisors LLC acquired a new position in Lululemon Athletica in the third quarter valued at $207,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

LULU stock traded down $0.22 during trading on Thursday, hitting $329.35. The stock had a trading volume of 229,732 shares, compared to its average volume of 2,155,691. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $480.94. The stock has a market cap of $40.11 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. The company’s 50 day moving average price is $372.75 and its two-hundred day moving average price is $336.02.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group boosted their price target on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Truist Financial increased their price target on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Citigroup lifted their price target on shares of Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their target price on Lululemon Athletica from $428.00 to $437.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI lifted their target price on Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $398.83.

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.