Prosperity Financial Group Inc. Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Prosperity Financial Group Inc. acquired a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 581 shares of the apparel retailer’s stock, valued at approximately $222,000.

Other hedge funds have also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in Lululemon Athletica during the fourth quarter worth $32,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter worth $32,000. Asset Planning Inc bought a new stake in shares of Lululemon Athletica during the fourth quarter worth $33,000. Sound Income Strategies LLC grew its holdings in shares of Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter worth $36,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Stock Down 4.3 %

LULU stock opened at $319.42 on Wednesday. The business has a 50 day moving average price of $380.70 and a two-hundred day moving average price of $334.18. The company has a market cap of $38.90 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 2.22 and a beta of 1.21. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $480.94.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on LULU. Telsey Advisory Group increased their target price on Lululemon Athletica from $430.00 to $445.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Morgan Stanley increased their target price on Lululemon Athletica from $414.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Jefferies Financial Group restated an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a report on Monday, December 2nd. Piper Sandler increased their target price on Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and raised their price target for the company from $360.00 to $460.00 in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $399.14.

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.