Lululemon Athletica Sees Unusually Large Options Volume (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULUGet Free Report) saw unusually large options trading on Wednesday. Investors acquired 68,073 put options on the company. This represents an increase of approximately 135% compared to the typical daily volume of 28,933 put options.

Insider Transactions at Lululemon Athletica

In other news, Director Martha A. M. Morfitt bought 700 shares of the stock in a transaction dated Tuesday, March 26th. The shares were bought at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $194,645. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Rockline Wealth Management LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter worth $1,503,000. Envestnet Asset Management Inc. increased its stake in shares of Lululemon Athletica by 30.3% in the third quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock worth $73,248,000 after buying an additional 44,141 shares during the period. Zurich Insurance Group Ltd FI increased its stake in shares of Lululemon Athletica by 11.6% in the second quarter. Zurich Insurance Group Ltd FI now owns 95,880 shares of the apparel retailer’s stock worth $36,291,000 after buying an additional 9,943 shares during the period. Blair William & Co. IL boosted its holdings in Lululemon Athletica by 1.9% in the third quarter. Blair William & Co. IL now owns 290,658 shares of the apparel retailer’s stock valued at $112,081,000 after acquiring an additional 5,403 shares in the last quarter. Finally, HB Wealth Management LLC boosted its holdings in Lululemon Athletica by 10.9% in the fourth quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock valued at $871,000 after acquiring an additional 168 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LULU has been the topic of several recent analyst reports. TD Cowen decreased their price target on Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Wedbush cut their price objective on Lululemon Athletica from $548.00 to $492.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. HSBC downgraded shares of Lululemon Athletica from a “buy” rating to a “hold” rating and set a $500.00 target price on the stock. in a research report on Monday, January 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $550.00 target price on shares of Lululemon Athletica in a research report on Friday, March 22nd. Finally, Needham & Company LLC lowered their target price on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $496.29.

Check Out Our Latest Report on Lululemon Athletica

Lululemon Athletica Stock Down 1.1 %

Shares of NASDAQ:LULU opened at $374.01 on Thursday. The firm has a market capitalization of $47.13 billion, a PE ratio of 30.63, a P/E/G ratio of 1.36 and a beta of 1.30. Lululemon Athletica has a twelve month low of $326.93 and a twelve month high of $516.39. The company has a 50-day moving average price of $450.50 and a two-hundred day moving average price of $442.19.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last issued its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the business earned $4.40 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Analysts anticipate that Lululemon Athletica will post 14.17 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has approved a stock repurchase program on Thursday, December 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Lululemon Athletica Company Profile

(Get Free Report)

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.

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