L2 Asset Management LLC Purchases Shares of 6,873 lululemon athletica inc. $LULU

L2 Asset Management LLC bought a new stake in shares of lululemon athletica inc. (NASDAQ:LULU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,873 shares of the apparel retailer’s stock, valued at approximately $1,633,000.

Several other hedge funds also recently modified their holdings of the stock. Manhattan West Asset Management LLC increased its stake in lululemon athletica by 5.4% in the first quarter. Manhattan West Asset Management LLC now owns 724 shares of the apparel retailer’s stock valued at $205,000 after purchasing an additional 37 shares in the last quarter. Horizon Investments LLC increased its holdings in shares of lululemon athletica by 2.4% during the first quarter. Horizon Investments LLC now owns 1,610 shares of the apparel retailer’s stock valued at $456,000 after acquiring an additional 38 shares in the last quarter. GM Advisory Group LLC raised its position in shares of lululemon athletica by 2.0% during the first quarter. GM Advisory Group LLC now owns 1,992 shares of the apparel retailer’s stock worth $564,000 after purchasing an additional 40 shares during the period. Hancock Whitney Corp lifted its holdings in shares of lululemon athletica by 4.6% in the 1st quarter. Hancock Whitney Corp now owns 951 shares of the apparel retailer’s stock worth $269,000 after purchasing an additional 42 shares in the last quarter. Finally, Optimize Financial Inc grew its position in lululemon athletica by 2.3% in the 1st quarter. Optimize Financial Inc now owns 2,043 shares of the apparel retailer’s stock valued at $578,000 after purchasing an additional 45 shares during the period. Institutional investors own 85.20% of the company’s stock.

lululemon athletica Price Performance

LULU opened at $190.01 on Monday. The stock’s 50 day simple moving average is $173.35 and its 200 day simple moving average is $205.60. The firm has a market cap of $22.53 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 11.87 and a beta of 1.01. lululemon athletica inc. has a 1 year low of $159.25 and a 1 year high of $423.32.

lululemon athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, September 4th. The apparel retailer reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.24. lululemon athletica had a return on equity of 42.05% and a net margin of 16.38%.The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the firm posted $3.15 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that lululemon athletica inc. will post 14.36 EPS for the current year.

Insider Transactions at lululemon athletica

In other news, insider Nicole Neuburger sold 615 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $178.00, for a total transaction of $109,470.00. Following the completion of the transaction, the insider directly owned 8,993 shares of the company’s stock, valued at approximately $1,600,754. This represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LULU. KeyCorp cut shares of lululemon athletica from an “overweight” rating to a “sector weight” rating in a report on Tuesday, September 9th. UBS Group lowered their target price on shares of lululemon athletica from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Monday, November 17th. The Goldman Sachs Group cut their price target on shares of lululemon athletica from $200.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, November 17th. Citigroup set a $190.00 price objective on lululemon athletica and gave the stock a “neutral” rating in a research report on Thursday, November 20th. Finally, Sanford C. Bernstein cut lululemon athletica from an “outperform” rating to a “market perform” rating and set a $190.00 target price for the company. in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, thirty have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, lululemon athletica presently has an average rating of “Hold” and a consensus price target of $221.22.

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.