Covestor Ltd Sells 350 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Covestor Ltd lowered its stake in Duolingo, Inc. (NASDAQ:DUOL) by 32.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 737 shares of the company’s stock after selling 350 shares during the quarter. Covestor Ltd’s holdings in Duolingo were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp raised its holdings in shares of Duolingo by 3.6% in the 3rd quarter. State Street Corp now owns 1,076,273 shares of the company’s stock valued at $303,530,000 after purchasing an additional 36,923 shares in the last quarter. MML Investors Services LLC purchased a new stake in Duolingo in the 3rd quarter valued at about $1,301,000. Barclays PLC raised its holdings in shares of Duolingo by 90.9% in the 3rd quarter. Barclays PLC now owns 42,613 shares of the company’s stock valued at $12,018,000 after buying an additional 20,289 shares during the period. Geode Capital Management LLC raised its holdings in Duolingo by 2.5% in the third quarter. Geode Capital Management LLC now owns 672,800 shares of the company’s stock valued at $189,790,000 after acquiring an additional 16,481 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Duolingo during the 3rd quarter worth approximately $199,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Duolingo Stock Performance

Shares of DUOL traded down $11.31 during trading hours on Thursday, reaching $326.09. 104,913 shares of the company traded hands, compared to its average volume of 737,224. The stock’s fifty day moving average is $341.50 and its 200 day moving average is $328.01. 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 stock has a market cap of $14.75 billion, a P/E ratio of 178.19 and a beta of 0.91. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $441.77.

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

Insider Buying and Selling at Duolingo

In other Duolingo news, 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 sale, the insider now owns 129,572 shares of the company’s stock, valued at approximately $56,400,100.16. This represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ahn Luis Von sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $321.00, for a total value of $2,568,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,332 shares of company stock worth $33,442,107. Insiders own 18.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DUOL. Citizens Jmp upgraded Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a research report on Tuesday, March 18th. Bank of America lowered shares of Duolingo from a “buy” rating to a “neutral” rating and raised their price target for the company from $355.00 to $375.00 in a report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price target on shares of Duolingo from $410.00 to $360.00 and set an “overweight” rating for the company in a report on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of Duolingo in a research note on Friday, February 14th. Finally, Piper Sandler boosted their price target on shares of Duolingo from $351.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $372.92.

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.