Incline Global Management LLC Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Incline Global Management LLC acquired a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 38,881 shares of the apparel retailer’s stock, valued at approximately $10,550,000. Lululemon Athletica comprises 4.7% of Incline Global Management LLC’s investment portfolio, making the stock its 5th biggest holding.

A number of other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 43 shares during the last quarter. Paladin Wealth LLC purchased a new position in Lululemon Athletica during the third quarter valued at $29,000. Versant Capital Management Inc grew its holdings in shares of Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 40 shares during the period. JFS Wealth Advisors LLC grew its holdings in Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of Lululemon Athletica in the second quarter worth about $33,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of LULU stock traded down $3.86 during trading hours on Tuesday, reaching $330.54. The company had a trading volume of 198,593 shares, compared to its average volume of 2,067,976. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The stock has a fifty day moving average of $297.19 and a 200-day moving average of $287.01. The company has a market capitalization of $40.58 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 2.33 and a beta of 1.23.

Insider Activity

In other news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Robert W. Baird upped their target price on Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Piper Sandler lifted their price target on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Stifel Nicolaus decreased their price objective on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Evercore ISI increased their target price on shares of Lululemon Athletica from $300.00 to $355.00 and gave the stock an “outperform” rating in a report on Monday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $357.81.

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.