Parallel Advisors LLC Raises Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Parallel Advisors LLC lifted its holdings in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 62.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,068 shares of the apparel retailer's stock after buying an additional 5,409 shares during the period. Parallel Advisors LLC's holdings in Lululemon Athletica were worth $3,982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LULU. Brighton Jones LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter worth about $429,000. Blue Trust Inc. lifted its stake in shares of Lululemon Athletica by 10.3% in the fourth quarter. Blue Trust Inc. now owns 759 shares of the apparel retailer's stock worth $290,000 after buying an additional 71 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in Lululemon Athletica during the fourth quarter worth about $225,000. Mediolanum International Funds Ltd increased its position in Lululemon Athletica by 2.5% during the fourth quarter. Mediolanum International Funds Ltd now owns 82,955 shares of the apparel retailer's stock worth $31,781,000 after purchasing an additional 2,009 shares during the last quarter. Finally, Donald L. Hagan LLC purchased a new stake in shares of Lululemon Athletica in the 4th quarter valued at approximately $1,196,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LULU has been the topic of a number of recent analyst reports. Citigroup upped their price objective on Lululemon Athletica from $275.00 to $325.00 and gave the company a "neutral" rating in a report on Thursday. Oppenheimer increased their price target on Lululemon Athletica from $380.00 to $500.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. KeyCorp cut their price objective on Lululemon Athletica from $420.00 to $400.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Morgan Stanley decreased their target price on shares of Lululemon Athletica from $373.00 to $346.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Finally, BTIG Research dropped their price target on shares of Lululemon Athletica from $470.00 to $420.00 and set a "buy" rating for the company in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $369.52.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU traded up $6.28 during midday trading on Monday, hitting $322.95. 1,808,333 shares of the company's stock were exchanged, compared to its average volume of 2,160,633. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32. The company has a market cap of $38.96 billion, a PE ratio of 23.32, a P/E/G ratio of 2.22 and a beta of 1.30. The firm's fifty day simple moving average is $284.85 and its 200-day simple moving average is $338.00.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.29. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company's revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.29 EPS. Equities analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

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.