Lululemon Athletica Inc. (NASDAQ:LULU) Short Interest Up 19.2% in February

Lululemon Athletica Inc. (NASDAQ:LULU) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 6,760,000 shares, an increase of 19.2% from the February 13th total of 5,670,000 shares. Approximately 6.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is currently 3.7 days.

Lululemon Athletica Trading Down 1.2 %

LULU stock traded down $4.02 during trading on Tuesday, reaching $323.07. The stock had a trading volume of 1,122,404 shares, compared to its average volume of 2,164,704. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $480.94. The firm has a fifty day moving average price of $374.01 and a 200 day moving average price of $336.06. The company has a market capitalization of $39.34 billion, a P/E ratio of 23.33, a PEG ratio of 2.22 and a beta of 1.21.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently made changes to their positions in the business. Investment Partners Asset Management Inc. acquired a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $275,000. Rockefeller Capital Management L.P. raised its stake in Lululemon Athletica by 50.5% during the third quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock worth $28,070,000 after acquiring an additional 34,704 shares during the period. Lebenthal Global Advisors LLC lifted its holdings in Lululemon Athletica by 138.1% in the fourth quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock worth $1,032,000 after acquiring an additional 1,565 shares during the last quarter. Montag A & Associates Inc. boosted its stake in Lululemon Athletica by 495.1% in the fourth quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock valued at $1,627,000 after acquiring an additional 3,540 shares during the period. Finally, Northeast Investment Management bought a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $276,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial increased their price target on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Lululemon Athletica from $428.00 to $437.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Barclays upped their price objective on shares of Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. TD Securities lifted their target price on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Oppenheimer upped their target price on Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $399.14.

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.