Checchi Capital Advisers LLC Acquires Shares of 821 Lululemon Athletica Inc. (NASDAQ:LULU)

Checchi Capital Advisers LLC bought a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 821 shares of the apparel retailer’s stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LULU. Avitas Wealth Management LLC boosted its stake in Lululemon Athletica by 8.4% in the third quarter. Avitas Wealth Management LLC now owns 1,584 shares of the apparel retailer’s stock valued at $430,000 after acquiring an additional 123 shares during the last quarter. Mutual Advisors LLC lifted its stake in Lululemon Athletica by 6.4% in the third quarter. Mutual Advisors LLC now owns 11,303 shares of the apparel retailer’s stock valued at $3,379,000 after purchasing an additional 681 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in Lululemon Athletica by 13.1% during the third quarter. First Trust Direct Indexing L.P. now owns 2,111 shares of the apparel retailer’s stock valued at $573,000 after purchasing an additional 245 shares during the period. Pinnacle Associates Ltd. increased its position in Lululemon Athletica by 178.1% in the third quarter. Pinnacle Associates Ltd. now owns 3,223 shares of the apparel retailer’s stock worth $875,000 after buying an additional 2,064 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its stake in shares of Lululemon Athletica by 173.8% in the third quarter. SteelPeak Wealth LLC now owns 6,144 shares of the apparel retailer’s stock valued at $1,667,000 after buying an additional 3,900 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Down 1.1 %

NASDAQ LULU opened at $362.16 on Friday. The stock’s 50-day simple moving average is $387.09 and its two-hundred day simple moving average is $328.16. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $480.94. The company has a market capitalization of $44.11 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.22 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 EPS. On average, equities analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler lifted their price objective on Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. KeyCorp lifted their target price on shares of Lululemon Athletica from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Needham & Company LLC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price target on the stock in a research note on Friday, January 10th. Sanford C. Bernstein upgraded shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $360.00 to $460.00 in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group restated an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.14.

Insider Activity

In other news, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the business’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 completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Lululemon Athletica Company 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.