Harmony Asset Management LLC Acquires Shares of 800 Lululemon Athletica Inc. (NASDAQ:LULU)

Harmony Asset Management LLC acquired a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 800 shares of the apparel retailer’s stock, valued at approximately $217,000.

A number of other hedge funds have also bought and sold shares of the company. HighTower Advisors LLC increased its position in Lululemon Athletica by 479.0% during the third quarter. HighTower Advisors LLC now owns 48,908 shares of the apparel retailer’s stock valued at $13,337,000 after acquiring an additional 61,812 shares during the last quarter. Clearline Capital LP bought a new position in Lululemon Athletica during the third quarter valued at $4,825,000. Benjamin Edwards Inc. grew its holdings in shares of Lululemon Athletica by 4,786.3% in the third quarter. Benjamin Edwards Inc. now owns 4,642 shares of the apparel retailer’s stock worth $1,260,000 after purchasing an additional 4,547 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Lululemon Athletica in the third quarter worth about $5,745,000. Finally, Maverick Capital Ltd. bought a new position in shares of Lululemon Athletica in the third quarter worth about $93,476,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $340.66 on Wednesday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The stock’s fifty day moving average price is $300.23 and its 200 day moving average price is $287.02. The company has a market cap of $41.83 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.23.

Analysts Set New Price Targets

A number of research analysts have recently commented on LULU shares. KeyCorp cut their price target on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Needham & Company LLC started coverage on shares of Lululemon Athletica in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Robert W. Baird upped their price target on shares of Lululemon Athletica from $350.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their price target on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $357.84.

Insider Buying and Selling

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is owned by company insiders.

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.