The Manufacturers Life Insurance Company Has $6.59 Million Position in Duolingo, Inc. (NASDAQ:DUOL)

The Manufacturers Life Insurance Company increased its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 68.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,557 shares of the company's stock after purchasing an additional 12,872 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Duolingo worth $6,585,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC acquired a new position in shares of Duolingo in the 2nd quarter valued at about $204,768,000. Whale Rock Capital Management LLC boosted its stake in Duolingo by 23.9% in the first quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company's stock valued at $281,281,000 after acquiring an additional 245,599 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Duolingo by 153.1% during the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company's stock valued at $82,450,000 after purchasing an additional 238,990 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Duolingo by 73.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company's stock worth $80,459,000 after purchasing an additional 154,659 shares during the period. Finally, Clearbridge Investments LLC bought a new stake in shares of Duolingo in the 1st quarter worth approximately $28,555,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

DUOL has been the subject of a number of recent research reports. JMP Securities upped their price objective on Duolingo from $260.00 to $275.00 and gave the stock a "market outperform" rating in a research note on Wednesday, September 25th. Evercore ISI raised shares of Duolingo to a "strong-buy" rating in a report on Monday, August 5th. Wolfe Research began coverage on shares of Duolingo in a research note on Tuesday, July 16th. They set a "peer perform" rating for the company. Barclays decreased their target price on shares of Duolingo from $230.00 to $183.00 and set an "equal weight" rating for the company in a research report on Friday, August 9th. Finally, Bank of America lifted their price target on Duolingo from $292.00 to $298.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.50.

Duolingo Price Performance

Shares of DUOL stock traded down $0.17 during mid-day trading on Friday, hitting $283.49. 504,947 shares of the stock traded hands, compared to its average volume of 728,558. Duolingo, Inc. has a twelve month low of $140.16 and a twelve month high of $297.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. The company's 50-day simple moving average is $219.28 and its 200-day simple moving average is $208.31. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 292.26 and a beta of 0.79.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.32 by $0.19. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The firm had revenue of $178.30 million for the quarter, compared to analysts' expectations of $177.13 million. During the same period in the previous year, the business earned $0.08 earnings per share. Duolingo's revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, equities research analysts expect that Duolingo, Inc. will post 1.87 earnings per share for the current year.

Insider Activity at Duolingo

In other news, insider Robert Meese sold 5,000 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total transaction of $1,425,200.00. Following the completion of the sale, the insider now directly owns 142,053 shares of the company's stock, valued at $40,490,787.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Natalie Glance sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $161.78, for a total value of $242,670.00. Following the completion of the sale, the insider now owns 144,282 shares in the company, valued at approximately $23,341,941.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Meese sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total transaction of $1,425,200.00. Following the completion of the transaction, the insider now directly owns 142,053 shares of the company's stock, valued at $40,490,787.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,374 shares of company stock valued at $18,444,907 over the last ninety days. Insiders own 18.30% of the company's stock.

Duolingo 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.