Legacy Investment Solutions LLC Invests $1.70 Million in Duolingo, Inc. (NASDAQ:DUOL)

Legacy Investment Solutions LLC purchased a new position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,025 shares of the company's stock, valued at approximately $1,699,000. Duolingo accounts for about 1.1% of Legacy Investment Solutions LLC's investment portfolio, making the stock its 20th biggest position.

Several other institutional investors have also bought and sold shares of DUOL. Dragoneer Investment Group LLC bought a new position in Duolingo during the second quarter worth about $204,768,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Duolingo by 42.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company's stock valued at $96,530,000 after buying an additional 101,653 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Duolingo by 23.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company's stock valued at $14,005,000 after buying an additional 12,860 shares in the last quarter. Lisanti Capital Growth LLC boosted its holdings in Duolingo by 17.8% in the 3rd quarter. Lisanti Capital Growth LLC now owns 11,645 shares of the company's stock worth $3,284,000 after buying an additional 1,760 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in Duolingo in the 3rd quarter valued at approximately $4,350,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DUOL shares. Piper Sandler increased their target price on Duolingo from $271.00 to $351.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Barclays boosted their price objective on Duolingo from $183.00 to $295.00 and gave the company an "equal weight" rating in a research note on Thursday, November 7th. Scotiabank initiated coverage on Duolingo in a research note on Thursday. They issued a "sector outperform" rating and a $425.00 target price for the company. The Goldman Sachs Group upped their price target on Duolingo from $250.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, Seaport Res Ptn downgraded shares of Duolingo from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Duolingo has an average rating of "Moderate Buy" and an average target price of $340.70.

Duolingo Price Performance

DUOL stock traded down $4.53 during midday trading on Friday, reaching $368.50. The company had a trading volume of 552,089 shares, compared to its average volume of 567,379. The firm has a 50-day moving average price of $310.78 and a 200-day moving average price of $239.92. The company has a market capitalization of $16.21 billion, a P/E ratio of 201.37 and a beta of 0.85. Duolingo, Inc. has a 1 year low of $145.05 and a 1 year high of $378.48. 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 - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. The company had revenue of $192.59 million during 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. On average, research analysts anticipate that Duolingo, Inc. will post 2.02 earnings per share for the current fiscal year.

Insider Transactions at Duolingo

In related news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total value of $470,040.00. Following the transaction, the insider now owns 136,760 shares in the company, valued at $42,855,113.60. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Meese sold 5,000 shares of the business's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $270.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the insider now directly owns 147,053 shares of the company's stock, valued at $39,704,310. This represents a 3.29 % 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 worth $4,823,261. 18.30% of the stock is currently owned by corporate insiders.

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.