In a separate 13G filing, Stephen Mandel’s Lone Pine Capital LLC reported acquiring a 6.45 million-share stake in Lululemon Athletica Inc. (NASDAQ:LULU), which accounts for 5.0% of the company’s outstanding shares. The retailer of technical athletic apparel has seen its shares decline by 11% over the past year, but numerous financial hubs are bullish on the company. Just recently, Guggenheim reiterated its ‘Buy’ rating on the stock, maintained its price target of $70 and even called the retailer a top pick for 2016, citing innovation in its product lineup. The financial hub also believes that Lululemon Athletica Inc. (NASDAQ:LULU) will no longer face inventory and gross margin issues. The retailer reported net revenue of $1.36 billion for the first nine months of 2015, up by 14% year-over-year. However, the company’s gross profit as a share of net revenue dropped by 320 basis points to 47.4%. It is also hard to overlook the company’s price-to-earnings multiples, so Lululemon will have to constantly surprise the market with attractive same-store sales growth and bottom-line growth figures to justify its high valuation. For instance, the stock trades at a forward P/E ratio of 27.21, which is substantially above the ratio of 15.38 for the S&P 500 Index. 32 hedge funds tracked by Insider Monkey were invested in the retailer at the end of the third quarter, compared to 35 registered at the end of the prior quarter. Ken Griffin’s Citadel Advisors LLC upped its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 64% during the third quarter to 3.31 million shares.
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As revealed by a Schedule 13G, Park West Asset Management LLC currently owns 2.92 million shares of Intralinks Holdings Inc. (NYSE:IL), which constitute 5.0% of the company’s shares. This compares to 2.06 million shares owned by Park West on September 30. The technology provider of Software-as-a-Service solutions for secure enterprise content collaboration has seen its shares drop by 23% over the past 12 months. The company’s cloud-based solutions, which allow businesses to securely manage, search and exchange sensitive information, have witnessed increased demand over the past several quarters. Intralinks Holdings Inc. (NYSE:IL)’s revenue for the first three quarters of 2015 totaled $204.87 million, compared to $188.40 million reported for the same period of 2014. However, the company’s net loss widened quite significantly year-over-year to $24.40 million from $15.40 million. Its gross margin also decreased to 72.1% from 72.8%. Even so, analysts anticipate that the company will generate earnings per share of $0.13 for fiscal year 2016, so investors could consider the company a long-term investment with the potential for eye-catching top- and bottom-line growth rates. A total of 26 smart money investors from our system had stakes in the company at the end of September, accumulating 26.30% of its shares. Jim Simons’ Renaissance Technologies owns 2.47 million shares of Intralinks Holdings Inc. (NYSE:IL) as of the end of the third quarter.
