Wealthfront Advisers LLC Boosts Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Wealthfront Advisers LLC boosted its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 99.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,776 shares of the apparel retailer’s stock after buying an additional 8,366 shares during the quarter. Wealthfront Advisers LLC’s holdings in Lululemon Athletica were worth $6,415,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in Lululemon Athletica during the 4th quarter worth approximately $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $32,000. Sound Income Strategies LLC increased its holdings in shares of Lululemon Athletica by 309.5% during the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Asset Planning Inc purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $36,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Down 0.9 %

Shares of LULU stock opened at $316.49 on Thursday. The company’s 50-day moving average price is $379.38 and its 200-day moving average price is $334.06. The stock has a market cap of $38.54 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 2.22 and a beta of 1.21. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $480.94.

Analysts Set New Price Targets

LULU has been the subject of several recent research reports. KeyCorp lifted their target price on shares of Lululemon Athletica from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Morgan Stanley lifted their target price on shares of Lululemon Athletica from $414.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. BMO Capital Markets lifted their target price on shares of Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Finally, TD Securities lifted their price target on shares of Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $399.14.

Insider Activity

In other news, 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 transaction of $782,736.42. Following the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. The trade was a 24.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

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.