Clearline Capital LP Purchases New Shares in Lululemon Athletica Inc. (NASDAQ:LULU)

Clearline Capital LP acquired a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 17,782 shares of the apparel retailer’s stock, valued at approximately $4,825,000.

A number of other institutional investors also recently bought and sold shares of the business. Benjamin Edwards Inc. increased its position in Lululemon Athletica by 4,786.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,642 shares of the apparel retailer’s stock valued at $1,260,000 after acquiring an additional 4,547 shares during the period. Erste Asset Management GmbH purchased a new position in shares of Lululemon Athletica in the 3rd quarter valued at approximately $5,745,000. Maverick Capital Ltd. acquired a new position in shares of Lululemon Athletica in the third quarter valued at approximately $93,476,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Lululemon Athletica by 60.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 546,162 shares of the apparel retailer’s stock worth $148,201,000 after purchasing an additional 205,757 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new position in Lululemon Athletica in the 3rd quarter valued at $81,405,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The trade was a 4.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Price Performance

Shares of LULU opened at $320.66 on Monday. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The stock has a market cap of $39.37 billion, a PE ratio of 24.78, a P/E/G ratio of 2.33 and a beta of 1.24. The stock’s 50-day moving average is $297.19 and its two-hundred day moving average is $287.01.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the company earned $2.68 earnings per share. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts anticipate that Lululemon Athletica Inc. will post 14.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Truist Financial boosted their target price on Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. TD Cowen cut their price objective on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Piper Sandler upped their price target on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Wells Fargo & Company cut their price objective on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Finally, Telsey Advisory Group dropped their price target on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $356.03.

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.