Fred Alger Management LLC Has $245,000 Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Fred Alger Management LLC decreased its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 96.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 904 shares of the apparel retailer’s stock after selling 26,174 shares during the period. Fred Alger Management LLC’s holdings in Lululemon Athletica were worth $245,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares in the last quarter. Versant Capital Management Inc increased its stake 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 last quarter. Paladin Wealth LLC purchased a new stake in shares of Lululemon Athletica during the third quarter worth $29,000. Ridgewood Investments LLC acquired a new stake in Lululemon Athletica during the second quarter valued at $33,000. Finally, Dnca Finance purchased a new position in Lululemon Athletica in the second quarter valued at about $34,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.

Lululemon Athletica Trading Up 0.4 %

NASDAQ LULU opened at $320.66 on Monday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The company has a market capitalization of $39.37 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 2.33 and a beta of 1.24. The stock’s 50 day moving average is $297.19 and its two-hundred day moving average is $287.01.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. On average, analysts predict that Lululemon Athletica Inc. will post 14.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LULU has been the subject of several research reports. Needham & Company LLC assumed coverage on Lululemon Athletica in a report on Friday, November 22nd. They set a “hold” rating for the company. Barclays reduced their target price on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Telsey Advisory Group dropped their price target on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Citigroup reduced their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Finally, TD Securities increased their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $356.03.

Lululemon Athletica 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.