Lululemon Athletica (NASDAQ:LULU) Shares Gap Up – Still a Buy?

Lululemon Athletica Inc. (NASDAQ:LULU) gapped up before the market opened on Tuesday . The stock had previously closed at $334.96, but opened at $342.50. Lululemon Athletica shares last traded at $337.09, with a volume of 906,224 shares trading hands.

Analyst Ratings Changes

Several research firms recently issued reports on LULU. Stifel Nicolaus reissued a “buy” rating and issued a $438.00 target price (up from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Truist Financial increased their target price on Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Jefferies Financial Group restated an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Lululemon Athletica from $428.00 to $437.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and an average target price of $397.10.

Lululemon Athletica Stock Performance

The company’s fifty day simple moving average is $368.64 and its two-hundred day simple moving average is $338.07. The company has a market capitalization of $41.06 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

Insider Buying and Selling

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the transaction, the insider now 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 filing with the SEC, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in Lululemon Athletica by 51.6% in the third quarter. Advisors Asset Management Inc. now owns 1,677 shares of the apparel retailer’s stock worth $455,000 after purchasing an additional 571 shares during the period. Swedbank AB boosted its holdings in shares of Lululemon Athletica by 151.0% in the 3rd quarter. Swedbank AB now owns 367,584 shares of the apparel retailer’s stock valued at $99,744,000 after buying an additional 221,112 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Lululemon Athletica by 5.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 26,949 shares of the apparel retailer’s stock valued at $7,313,000 after buying an additional 1,293 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in Lululemon Athletica by 50.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 5,490 shares of the apparel retailer’s stock worth $1,489,000 after acquiring an additional 1,834 shares during the period. Finally, Independent Advisor Alliance lifted its holdings in Lululemon Athletica by 11.8% in the third quarter. Independent Advisor Alliance now owns 2,977 shares of the apparel retailer’s stock worth $808,000 after acquiring an additional 315 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

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.