Long Walk Management LP Cuts Position in Duolingo, Inc. (NASDAQ:DUOL)

Long Walk Management LP lowered its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 14.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 63,250 shares of the company’s stock after selling 11,050 shares during the period. Duolingo comprises about 7.5% of Long Walk Management LP’s holdings, making the stock its 6th largest position. Long Walk Management LP’s holdings in Duolingo were worth $20,508,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in Duolingo by 26.9% during the third quarter. FMR LLC now owns 2,663,234 shares of the company’s stock valued at $751,085,000 after buying an additional 564,173 shares during the period. Spyglass Capital Management LLC purchased a new position in Duolingo during the 3rd quarter valued at about $38,512,000. Charles Schwab Investment Management Inc. lifted its position in Duolingo by 42.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company’s stock valued at $96,530,000 after acquiring an additional 101,653 shares during the period. Bamco Inc. NY bought a new stake in Duolingo during the third quarter worth about $25,808,000. Finally, Lord Abbett & CO. LLC grew its holdings in Duolingo by 63.6% in the third quarter. Lord Abbett & CO. LLC now owns 197,670 shares of the company’s stock worth $55,747,000 after purchasing an additional 76,875 shares during the period. 91.59% of the stock is owned by institutional investors.

Insider Transactions at Duolingo

In other Duolingo news, General Counsel Stephen C. Chen sold 2,064 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total transaction of $898,087.68. Following the completion of the sale, the general counsel now directly owns 34,634 shares of the company’s stock, valued at approximately $15,069,946.08. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalie Glance sold 9,020 shares of Duolingo stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $290.59, for a total transaction of $2,621,121.80. Following the transaction, the insider now owns 130,733 shares in the company, valued at $37,989,702.47. This represents a 6.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,499 shares of company stock worth $29,162,568 in the last ninety days. Insiders own 18.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DUOL. JPMorgan Chase & Co. lifted their target price on shares of Duolingo from $400.00 to $410.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Piper Sandler boosted their target price on Duolingo from $351.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Needham & Company LLC increased their target price on Duolingo from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Jefferies Financial Group initiated coverage on Duolingo in a research report on Friday, January 24th. They issued a “hold” rating and a $370.00 price target for the company. Finally, JMP Securities reissued a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Duolingo has a consensus rating of “Moderate Buy” and an average price target of $375.00.

Duolingo Stock Performance

Shares of NASDAQ DUOL opened at $283.54 on Friday. The firm’s 50-day moving average price is $350.03 and its 200-day moving average price is $316.48. Duolingo, Inc. has a 52-week low of $145.05 and a 52-week high of $441.77. The company has a market cap of $12.83 billion, a PE ratio of 154.94 and a beta of 0.92. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The company had revenue of $209.55 million for the quarter, compared to the consensus estimate of $205.49 million. As a group, analysts anticipate that Duolingo, Inc. will post 2.03 EPS for the current year.

Duolingo Company 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.