Envestnet Asset Management Inc. Trims Stock Holdings in Duolingo, Inc. (NASDAQ:DUOL)

Envestnet Asset Management Inc. reduced its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,198 shares of the company's stock after selling 7,374 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Duolingo worth $10,440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DUOL. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Duolingo during the 4th quarter worth about $31,000. Harvest Fund Management Co. Ltd raised its position 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. Global Retirement Partners LLC boosted its holdings in Duolingo by 1,255.6% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the company's stock valued at $40,000 after purchasing an additional 113 shares in the last quarter. Smithfield Trust Co raised its holdings in Duolingo by 41.8% during the fourth quarter. Smithfield Trust Co now owns 156 shares of the company's stock worth $51,000 after purchasing an additional 46 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Duolingo in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Duolingo Price Performance

Shares of Duolingo stock traded up $3.62 during trading on Thursday, reaching $373.62. The company's stock had a trading volume of 208,108 shares, compared to its average volume of 712,690. The business has a 50 day moving average price of $328.05 and a 200-day moving average price of $331.07. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $441.77. The company has a market capitalization of $16.90 billion, a P/E ratio of 204.15 and a beta of 0.91. 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 - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.19). Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The company had revenue of $209.55 million for the quarter, compared to analysts' expectations of $205.49 million. As a group, sell-side analysts anticipate that Duolingo, Inc. will post 2.03 EPS for the current year.

Insider Activity

In related news, General Counsel Stephen C. Chen sold 2,064 shares of Duolingo stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $435.12, for a total transaction of $898,087.68. Following the completion of the transaction, the general counsel now directly owns 34,634 shares of the company's stock, valued at approximately $15,069,946.08. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Severin Hacker sold 10,000 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $391.46, for a total value of $3,914,600.00. Following the completion of the sale, the insider now directly owns 72 shares in the company, valued at $28,185.12. This trade represents a 99.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 94,868 shares of company stock worth $31,897,800. Company insiders own 18.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays upped their target price on Duolingo from $295.00 to $330.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. DA Davidson raised their target price on shares of Duolingo from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. The Goldman Sachs Group upped their price target 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. JMP Securities reissued a "market perform" rating on shares of Duolingo in a research report on Friday, February 14th. Finally, Citizens Jmp raised shares of Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 target price for the company in a report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $376.15.

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.