Elephas Investment Management Ltd bought a new position in shares of Lululemon Athletica inc. (NASDAQ:LULU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 369,800 shares of the apparel retailer’s stock, valued at approximately $29,062,000. Lululemon Athletica makes up about 7.5% of Elephas Investment Management Ltd’s investment portfolio, making the stock its 5th largest holding. Elephas Investment Management Ltd owned about 0.27% of Lululemon Athletica at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Lululemon Athletica by 702.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock worth $120,000 after purchasing an additional 1,335 shares in the last quarter. Zions Bancorporation increased its position in shares of Lululemon Athletica by 183.2% during the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock worth $130,000 after purchasing an additional 1,356 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth about $171,000. American International Group Inc. acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth about $180,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Lululemon Athletica during the third quarter worth about $156,000. Institutional investors and hedge funds own 80.18% of the company’s stock.
In other news, major shareholder Dennis J. Wilson sold 722,134 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $77.47, for a total transaction of $55,943,720.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is owned by insiders.
Lululemon Athletica announced that its board has initiated a share repurchase plan on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
A number of analysts have recently commented on the company. BidaskClub cut Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research cut Lululemon Athletica from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Credit Suisse Group initiated coverage on Lululemon Athletica in a research report on Monday, March 12th. They issued an “outperform” rating and a $96.00 price target on the stock. SunTrust Banks boosted their price target on Lululemon Athletica from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Finally, BMO Capital Markets boosted their price target on Lululemon Athletica to $64.00 and gave the company a “market perform” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Lululemon Athletica has a consensus rating of “Buy” and an average price target of $75.03.
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Lululemon Athletica Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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