lululemon athletica inc. (NASDAQ:LULU) Shares Acquired by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd significantly increased its stake in lululemon athletica by 385.4% in Q1, owning 9,500 shares worth $2.69 million.
• CEO Calvin McDonald sold 27,049 shares at an average price of $235.69, reducing his position by 19.66%.
• lululemon's latest quarterly earnings showed a 7.3% year-over-year revenue growth, reporting $2.37 billion in revenue.

Maxi Investments CY Ltd grew its stake in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 385.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,500 shares of the apparel retailer's stock after acquiring an additional 7,543 shares during the period. Maxi Investments CY Ltd's holdings in lululemon athletica were worth $2,689,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new position in shares of lululemon athletica during the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC boosted its stake in shares of lululemon athletica by 506.3% during the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Anderson Financial Strategies LLC bought a new position in shares of lululemon athletica during the fourth quarter valued at approximately $30,000. Garde Capital Inc. bought a new position in shares of lululemon athletica during the first quarter valued at approximately $35,000. Finally, CENTRAL TRUST Co boosted its stake in shares of lululemon athletica by 154.9% during the first quarter. CENTRAL TRUST Co now owns 130 shares of the apparel retailer's stock valued at $37,000 after purchasing an additional 79 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica stock in a transaction on Friday, June 27th. The shares were sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the transaction, the chief executive officer owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. The trade was a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company's stock.

lululemon athletica Stock Performance

Shares of lululemon athletica stock traded down $1.71 during trading on Friday, hitting $189.43. 3,184,383 shares of the company's stock were exchanged, compared to its average volume of 3,128,553. The business has a 50-day simple moving average of $236.47 and a 200-day simple moving average of $293.65. lululemon athletica inc. has a 52-week low of $186.52 and a 52-week high of $423.32. The stock has a market capitalization of $22.70 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.63 and a beta of 1.16.

lululemon athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.60. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter last year, the company posted $2.54 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that lululemon athletica inc. will post 14.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of lululemon athletica from $363.00 to $302.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Telsey Advisory Group reiterated an "outperform" rating and set a $385.00 price objective on shares of lululemon athletica in a research note on Monday, June 2nd. Jefferies Financial Group lowered their target price on shares of lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a research note on Friday, June 6th. Morgan Stanley restated an "equal weight" rating and issued a $280.00 target price (down from $346.00) on shares of lululemon athletica in a research note on Monday, June 9th. Finally, Truist Financial lowered their target price on shares of lululemon athletica from $297.00 to $290.00 and set a "buy" rating for the company in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, lululemon athletica has a consensus rating of "Moderate Buy" and an average price target of $329.91.

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.