Duolingo, Inc. (NASDAQ:DUOL) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,104 shares of the company's stock after selling 1,786 shares during the quarter. Bank of Montreal Can's holdings in Duolingo were worth $2,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DUOL. Penserra Capital Management LLC acquired a new stake in shares of Duolingo during the third quarter worth about $1,284,000. Cerity Partners LLC increased its holdings in shares of Duolingo by 8.2% in the third quarter. Cerity Partners LLC now owns 51,374 shares of the company's stock valued at $14,488,000 after purchasing an additional 3,894 shares during the period. Citigroup Inc. raised its stake in shares of Duolingo by 2.1% during the third quarter. Citigroup Inc. now owns 36,649 shares of the company's stock worth $10,336,000 after purchasing an additional 752 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Duolingo by 42.2% during 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. Finally, Landscape Capital Management L.L.C. purchased a new position in Duolingo in the 3rd quarter valued at $2,651,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DUOL. Barclays lifted their target price on shares of Duolingo from $183.00 to $295.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Needham & Company LLC increased their target price on Duolingo from $310.00 to $370.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Duolingo from $303.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Bank of America increased their price objective on Duolingo from $292.00 to $298.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Finally, JMP Securities lowered shares of Duolingo from an "outperform" rating to a "market perform" rating in a research report on Monday, October 14th. Five 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $340.70.

Duolingo Price Performance

Duolingo stock traded down $4.53 during mid-day trading on Friday, hitting $368.50. 551,820 shares of the company were exchanged, compared to its average volume of 690,498. 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, Inc. has a 12-month low of $145.05 and a 12-month high of $378.48. The business's 50 day simple moving average is $308.97 and its two-hundred day simple moving average is $238.18. The company has a market capitalization of $16.21 billion, a P/E ratio of 203.84 and a beta of 0.85.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.14. The company had revenue of $192.59 million for the quarter, compared to analyst estimates of $189.19 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm's quarterly revenue was up 39.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. Analysts forecast that Duolingo, Inc. will post 2.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Meese sold 4,819 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $240.02, for a total value of $1,156,656.38. Following the sale, the insider now directly owns 157,053 shares of the company's stock, valued at approximately $37,695,861.06. This trade represents a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Natalie Glance sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total transaction of $470,040.00. Following the completion of the sale, the insider now owns 136,760 shares of the company's stock, valued at approximately $42,855,113.60. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,819 shares of company stock valued at $4,823,261. Company insiders own 18.30% of the company's stock.

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.