Stock Traders Purchase High Volume of Lululemon Athletica Put Options (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULU) saw some unusual options trading on Thursday. Investors acquired 73,786 put options on the stock. This represents an increase of approximately 106% compared to the typical volume of 35,735 put options.

Analyst Ratings Changes

Several brokerages have issued reports on LULU. Citigroup cut their price objective on shares of Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Robert W. Baird cut their price objective on shares of Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company cut their price objective on shares of Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating for the company in a research report on Friday, March 22nd. BMO Capital Markets raised their price objective on shares of Lululemon Athletica from $408.00 to $420.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Finally, KeyCorp dropped their price target on shares of Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $483.61.

Insider Activity

In related news, Director Martha A. M. Morfitt acquired 700 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at $194,645. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. RBA Wealth Management LLC boosted its holdings in shares of Lululemon Athletica by 4.0% in the 1st quarter. RBA Wealth Management LLC now owns 9,315 shares of the apparel retailer’s stock valued at $3,639,000 after acquiring an additional 358 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Lululemon Athletica by 16.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 1,882 shares of the apparel retailer’s stock valued at $735,000 after acquiring an additional 267 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Lululemon Athletica in the 1st quarter valued at $2,412,000. Valeo Financial Advisors LLC boosted its holdings in shares of Lululemon Athletica by 110.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,623 shares of the apparel retailer’s stock valued at $1,415,000 after acquiring an additional 1,898 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its holdings in Lululemon Athletica by 0.9% during the first quarter. Azzad Asset Management Inc. ADV now owns 10,005 shares of the apparel retailer’s stock worth $3,909,000 after buying an additional 87 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

Shares of LULU opened at $352.47 on Friday. Lululemon Athletica has a 1-year low of $326.93 and a 1-year high of $516.39. The company has a 50-day moving average of $420.09 and a 200 day moving average of $438.41. The firm has a market capitalization of $44.41 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.22 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the business posted $4.40 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, equities analysts anticipate that Lululemon Athletica will post 14.15 earnings per share for the current fiscal year.

Lululemon Athletica Company 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.