Clear Perspective Advisors LLC trimmed its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 29.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 743 shares of the apparel retailer’s stock after selling 306 shares during the quarter. Clear Perspective Advisors LLC’s holdings in Lululemon Athletica were worth $271,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in LULU. FFT Wealth Management LLC bought a new stake in shares of Lululemon Athletica in the second quarter valued at about $28,000. Altshuler Shaham Ltd lifted its stake in Lululemon Athletica by 410.0% during the first quarter. Altshuler Shaham Ltd now owns 102 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 82 shares during the period. Clean Yield Group bought a new position in Lululemon Athletica during the second quarter worth about $31,000. Meridian Wealth Partners LLC bought a new position in Lululemon Athletica during the first quarter worth about $35,000. Finally, Orion Capital Management LLC bought a new position in shares of Lululemon Athletica in the second quarter valued at approximately $36,000. Institutional investors own 79.83% of the company’s stock.
In related news, CEO Calvin Mcdonald sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $427.37, for a total transaction of $4,273,700.00. Following the transaction, the chief executive officer now directly owns 53,409 shares of the company’s stock, valued at $22,825,404.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle Sun Choe sold 21,223 shares of the firm’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $424.75, for a total transaction of $9,014,469.25. The disclosure for this sale can be found here. Insiders sold 31,723 shares of company stock worth $13,501,272 over the last ninety days. Insiders own 0.39% of the company’s stock.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Tuesday, September 7th. The apparel retailer reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.46. Lululemon Athletica had a net margin of 14.96% and a return on equity of 34.16%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 60.7% compared to the same quarter last year. As a group, research analysts anticipate that Lululemon Athletica Inc. will post 7.58 earnings per share for the current year.
LULU has been the subject of a number of analyst reports. BTIG Research lifted their target price on shares of Lululemon Athletica from $440.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday, September 9th. Piper Sandler lifted their price target on shares of Lululemon Athletica from $446.00 to $481.00 and gave the company an “overweight” rating in a research note on Thursday, September 9th. JPMorgan Chase & Co. boosted their price objective on shares of Lululemon Athletica from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, September 9th. B. Riley boosted their price objective on shares of Lululemon Athletica from $370.00 to $466.00 and gave the company a “buy” rating in a report on Tuesday, August 17th. Finally, Morgan Stanley boosted their price objective on shares of Lululemon Athletica from $411.00 to $419.00 and gave the company an “equal weight” rating in a report on Thursday, September 9th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Buy” and a consensus price target of $448.32.
Lululemon Athletica Profile
lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It company operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize in athletic wear for female youth.
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