Convergence Investment Partners LLC Buys New Stake in Duolingo, Inc. (NASDAQ:DUOL)

Convergence Investment Partners LLC purchased a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL) during the 4th quarter, HoldingsChannel reports. The firm purchased 3,377 shares of the company’s stock, valued at approximately $1,095,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC purchased a new stake in shares of Duolingo in the third quarter valued at approximately $265,000. Blue Trust Inc. grew its stake in Duolingo by 228.7% in the 3rd quarter. Blue Trust Inc. now owns 470 shares of the company’s stock valued at $133,000 after acquiring an additional 327 shares during the period. International Assets Investment Management LLC increased its holdings in Duolingo by 30,909.9% in the 3rd quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock worth $100,135,000 after acquiring an additional 353,918 shares in the last quarter. Joel Isaacson & Co. LLC raised its position in Duolingo by 13.0% during the third quarter. Joel Isaacson & Co. LLC now owns 1,734 shares of the company’s stock worth $489,000 after acquiring an additional 200 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Duolingo during the third quarter valued at $568,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DUOL. Seaport Res Ptn cut shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on Duolingo from $408.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. DA Davidson raised their target price on Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC boosted their price target on Duolingo from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Jefferies Financial Group initiated coverage on Duolingo in a research note on Friday, January 24th. They issued a “hold” rating and a $370.00 price objective for the company. Seven 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $355.55.

Insiders Place Their Bets

In other news, CFO Matthew Skaruppa sold 4,464 shares of Duolingo stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $313.55, for a total transaction of $1,399,687.20. Following the sale, the chief financial officer now owns 63,266 shares of the company’s stock, valued at approximately $19,837,054.30. The trade was a 6.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Natalie Glance sold 2,667 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total value of $1,160,891.76. Following the completion of the transaction, the insider now owns 129,572 shares in the company, valued at $56,400,100.16. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 302,355 shares of company stock valued at $104,015,597 over the last ninety days. Company insiders own 18.30% of the company’s stock.

Duolingo Trading Down 2.0 %

Shares of DUOL stock opened at $432.52 on Thursday. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo, Inc. has a twelve month low of $145.05 and a twelve month high of $441.77. The company’s 50-day moving average price is $354.37 and its 200-day moving average price is $300.95. The stock has a market cap of $19.03 billion, a price-to-earnings ratio of 236.35 and a beta of 0.89.

About Duolingo

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.