Cerity Partners LLC Acquires 3,894 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Cerity Partners LLC boosted its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 8.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,374 shares of the company’s stock after acquiring an additional 3,894 shares during the quarter. Cerity Partners LLC owned about 0.12% of Duolingo worth $14,488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. bought a new position in Duolingo during the third quarter valued at $29,000. Larson Financial Group LLC purchased a new position in shares of Duolingo during the 2nd quarter worth about $31,000. Blue Trust Inc. bought a new position in Duolingo during the 2nd quarter valued at about $32,000. GAMMA Investing LLC raised its position in Duolingo by 350.0% in the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after purchasing an additional 133 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in Duolingo in the second quarter worth about $36,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Duolingo Price Performance

Shares of DUOL opened at $348.00 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The company has a 50 day moving average price of $294.74 and a 200-day moving average price of $229.12. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $364.95. The stock has a market capitalization of $15.31 billion, a PE ratio of 190.16 and a beta of 0.79.

Duolingo (NASDAQ:DUOL) last posted its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The company had revenue of $192.59 million during the quarter, compared to analyst estimates of $189.19 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. Duolingo’s revenue was up 39.9% on a year-over-year basis. Equities analysts predict that Duolingo, Inc. will post 2.02 earnings per share for the current fiscal year.

Insider Activity at Duolingo

In related news, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.51, for a total transaction of $311,265.00. Following the completion of the sale, the insider now owns 139,760 shares of the company’s stock, valued at $29,001,597.60. This represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Meese sold 4,819 shares of Duolingo stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $240.02, for a total transaction of $1,156,656.38. Following the completion of the transaction, the insider now directly owns 157,053 shares in the company, valued at $37,695,861.06. This represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,783 shares of company stock valued at $12,156,296 over the last quarter. 18.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DUOL shares. Piper Sandler increased their price target on Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JMP Securities downgraded Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. Barclays boosted their target price on shares of Duolingo from $183.00 to $295.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of Duolingo from $303.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, DA Davidson boosted their price objective on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.33.

Duolingo Profile

Duolingo, Inc operates as a mobile learning platform in the United States, the United Kingdom, and internationally. The company offers courses in 40 different languages, including Spanish, English, French, German, Italian, Portuguese, Japanese, and Chinese through its Duolingo app. It also provides a digital English language proficiency assessment exam.