Duolingo, Inc. (NASDAQ:DUOL) Shares Purchased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC raised its position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 63.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,670 shares of the company's stock after acquiring an additional 76,875 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.45% of Duolingo worth $55,747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tidal Investments LLC grew its holdings in shares of Duolingo by 8.0% in the third quarter. Tidal Investments LLC now owns 1,561 shares of the company's stock valued at $440,000 after purchasing an additional 115 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Duolingo in the 3rd quarter valued at approximately $199,000. Geode Capital Management LLC grew its stake 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 acquiring an additional 16,481 shares in the last quarter. Barclays PLC raised its stake in shares of Duolingo by 90.9% in the third quarter. Barclays PLC now owns 42,613 shares of the company's stock valued at $12,018,000 after acquiring an additional 20,289 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in Duolingo in the third quarter valued at $1,301,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Duolingo Stock Performance

DUOL traded down $1.45 on Friday, reaching $338.07. The company had a trading volume of 517,811 shares, compared to its average volume of 688,981. The stock has a 50-day moving average price of $317.36 and a 200-day moving average price of $245.80. The stock has a market capitalization of $14.87 billion, a PE ratio of 184.74 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 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 released its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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 return on equity of 11.74% and a net margin of 12.59%. The firm's revenue was up 39.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, research analysts forecast that Duolingo, Inc. will post 2.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Meese sold 5,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $270.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $280.91, for a total value of $421,365.00. Following the completion of the sale, the insider now directly owns 138,260 shares in the company, valued at $38,838,616.60. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,220 shares of company stock worth $69,516,702 in the last 90 days. Company insiders own 18.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DUOL shares. Bank of America downgraded Duolingo from a "buy" rating to a "neutral" rating and upped their price target for the stock from $355.00 to $375.00 in a report on Wednesday. UBS Group upped their target price on shares of Duolingo from $355.00 to $408.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Needham & Company LLC lifted their price target on shares of Duolingo from $310.00 to $370.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Seaport Res Ptn cut shares of Duolingo from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Duolingo from $360.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $352.40.

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.