Frank Rimerman Advisors LLC Acquires New Shares in Lululemon Athletica Inc. (NASDAQ:LULU)

Frank Rimerman Advisors LLC acquired a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 584 shares of the apparel retailer’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Investment Partners Asset Management Inc. acquired a new position in Lululemon Athletica during the 4th quarter valued at approximately $275,000. Rockefeller Capital Management L.P. boosted its position in Lululemon Athletica by 50.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after purchasing an additional 34,704 shares during the period. Lebenthal Global Advisors LLC boosted its position in Lululemon Athletica by 138.1% during the 4th quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock worth $1,032,000 after acquiring an additional 1,565 shares during the period. Montag A & Associates Inc. boosted its position in Lululemon Athletica by 495.1% during the 4th quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock worth $1,627,000 after acquiring an additional 3,540 shares during the period. Finally, Northeast Investment Management acquired a new position in Lululemon Athletica during the 4th quarter worth $276,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Buying and Selling

In other news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Trading Up 5.2 %

Shares of Lululemon Athletica stock opened at $327.09 on Tuesday. The stock has a 50-day moving average price of $375.42 and a 200 day moving average price of $335.62. The company has a market cap of $39.83 billion, a P/E ratio of 23.62, a P/E/G ratio of 2.22 and a beta of 1.21. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $480.94.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. BMO Capital Markets boosted their price target on Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Truist Financial boosted their price target on Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Telsey Advisory Group boosted their price target on Lululemon Athletica from $430.00 to $445.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. UBS Group upped their price objective on Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group restated an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $399.14.

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.