Alpha Cubed Investments LLC Has $8.93 Million Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Alpha Cubed Investments LLC increased its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,469 shares of the apparel retailer’s stock after buying an additional 601 shares during the period. Alpha Cubed Investments LLC’s holdings in Lululemon Athletica were worth $8,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LULU. Valley National Advisers Inc. increased its stake in Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Milestone Investment Advisors LLC bought a new stake in shares of Lululemon Athletica in the third quarter worth $27,000. Bogart Wealth LLC grew its stake in shares of Lululemon Athletica by 270.0% in the third quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. Morton Brown Family Wealth LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter worth $31,000. Finally, Farmers & Merchants Investments Inc. bought a new stake in shares of Lululemon Athletica in the fourth quarter worth $40,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Martha A. M. Morfitt acquired 700 shares of Lululemon Athletica stock in a transaction on Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, with a total value of $272,503.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $194,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. KeyCorp reduced their price objective on shares of Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Truist Financial dropped their target price on shares of Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a report on Monday, March 25th. JPMorgan Chase & Co. dropped their target price on shares of Lululemon Athletica from $531.00 to $509.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. HSBC dropped their target price on shares of Lululemon Athletica from $500.00 to $405.00 in a report on Wednesday, April 10th. Finally, BNP Paribas lowered shares of Lululemon Athletica from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $430.00 to $415.00 in a report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $476.57.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU traded down $3.36 during midday trading on Tuesday, hitting $360.60. 1,591,707 shares of the company’s stock were exchanged, compared to its average volume of 1,765,860. The stock has a 50 day moving average price of $408.86 and a 200-day moving average price of $439.09. The company has a market cap of $45.44 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. Lululemon Athletica Inc. has a 12 month low of $326.93 and a 12 month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the previous year, the firm posted $4.40 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, analysts anticipate that Lululemon Athletica Inc. will post 14.15 EPS for the current fiscal year.

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.