Corebridge Financial Inc. Sells 1,394 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Corebridge Financial Inc. lessened its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,303 shares of the company’s stock after selling 1,394 shares during the period. Corebridge Financial Inc. owned about 0.10% of Duolingo worth $14,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DUOL. True Wealth Design LLC bought a new position in shares of Duolingo during the third quarter worth about $26,000. First Horizon Advisors Inc. acquired a new position in Duolingo during the 3rd quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Duolingo during the 4th quarter worth approximately $31,000. Harvest Fund Management Co. Ltd grew its stake in shares of Duolingo by 5,050.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock worth $33,000 after acquiring an additional 101 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of Duolingo by 1,255.6% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock worth $40,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Transactions at Duolingo

In other Duolingo news, insider Natalie Glance sold 9,020 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $290.59, for a total value of $2,621,121.80. Following the transaction, the insider now directly owns 130,733 shares of the company’s stock, valued at $37,989,702.47. This represents a 6.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Severin Hacker sold 10,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $336.23, for a total value of $3,362,300.00. Following the transaction, the insider now owns 72 shares in the company, valued at $24,208.56. The trade was a 99.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,499 shares of company stock worth $32,677,268. Company insiders own 18.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on DUOL shares. The Goldman Sachs Group raised their target price on shares of Duolingo from $275.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Piper Sandler upped 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. Citizens Jmp upgraded Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 price target for the company in a research note on Tuesday, March 18th. Scotiabank initiated coverage on Duolingo in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $425.00 price objective on the stock. Finally, Jefferies Financial Group initiated coverage on Duolingo in a report on Friday, January 24th. They issued a “hold” rating and a $370.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $376.25.

Duolingo Price Performance

NASDAQ:DUOL opened at $340.50 on Wednesday. The company has a market cap of $15.41 billion, a P/E ratio of 186.07 and a beta of 0.92. The firm’s fifty day moving average price is $348.42 and its two-hundred day moving average price is $322.25. Duolingo, Inc. has a one year low of $145.05 and a one year high of $441.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09.

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

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.