Convergence Investment Partners LLC bought a new position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,377 shares of the company's stock, valued at approximately $1,095,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in shares of Duolingo by 26.9% in the third quarter. FMR LLC now owns 2,663,234 shares of the company's stock worth $751,085,000 after purchasing an additional 564,173 shares during the period. State Street Corp increased its position in shares of Duolingo by 3.6% in the third quarter. State Street Corp now owns 1,076,273 shares of the company's stock worth $303,530,000 after purchasing an additional 36,923 shares during the period. Geode Capital Management LLC increased its position in shares of Duolingo by 2.5% in the third quarter. Geode Capital Management LLC now owns 672,800 shares of the company's stock worth $189,790,000 after purchasing an additional 16,481 shares during the period. International Assets Investment Management LLC increased its position in shares of Duolingo by 30,909.9% in the third quarter. International Assets Investment Management LLC now owns 355,063 shares of the company's stock worth $100,135,000 after purchasing an additional 353,918 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Duolingo by 42.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company's stock worth $96,530,000 after purchasing an additional 101,653 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently commented on DUOL. JPMorgan Chase & Co. raised their price target on Duolingo from $360.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, December 12th. Scotiabank began coverage on Duolingo in a report on Thursday, December 5th. They set a "sector outperform" rating and a $425.00 price target on the stock. Seaport Res Ptn lowered Duolingo from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their price objective on Duolingo from $370.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group began coverage on Duolingo in a research note on Friday, January 24th. They issued a "hold" rating and a $370.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Duolingo presently has a consensus rating of "Moderate Buy" and an average target price of $355.55.
Check Out Our Latest Stock Report on Duolingo
Insider Buying and Selling at Duolingo
In other news, insider Severin Hacker sold 188,901 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $339.54, for a total transaction of $64,139,445.54. Following the completion of the sale, the insider now owns 72 shares in the company, valued at $24,446.88. The trade was a 99.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the business's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $369.33, for a total value of $553,995.00. Following the sale, the insider now owns 132,239 shares of the company's stock, valued at approximately $48,839,829.87. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 305,639 shares of company stock valued at $105,445,057. 18.30% of the stock is currently owned by company insiders.
Duolingo Trading Down 8.5 %
DUOL traded down $35.97 during trading on Friday, hitting $385.82. The company's stock had a trading volume of 763,196 shares, compared to its average volume of 636,132. Duolingo, Inc. has a twelve month low of $145.05 and a twelve month high of $441.77. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average price is $356.02 and its 200-day moving average price is $301.79. The firm has a market capitalization of $16.97 billion, a P/E ratio of 211.03 and a beta of 0.89.
About Duolingo
(
Free Report)
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.
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