Raymond James Financial Inc. Purchases Shares of 20,594 Duolingo, Inc. (NASDAQ:DUOL)

Raymond James Financial Inc. acquired a new position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,594 shares of the company's stock, valued at approximately $6,677,000.

A number of other hedge funds have also bought and sold shares of the business. True Wealth Design LLC purchased a new stake in Duolingo during the 3rd quarter valued at $26,000. First Horizon Advisors Inc. purchased a new position in Duolingo in the 3rd quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Duolingo during the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC grew its holdings in Duolingo by 1,255.6% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the company's stock valued at $40,000 after buying an additional 113 shares in the last quarter. Finally, Smithfield Trust Co raised its position in shares of Duolingo by 41.8% during the fourth quarter. Smithfield Trust Co now owns 156 shares of the company's stock valued at $51,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DUOL. 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 research note on Tuesday, March 18th. Jefferies Financial Group began coverage on Duolingo in a research report on Friday, January 24th. They set a "hold" rating and a $370.00 price objective for the company. DA Davidson boosted their target price on Duolingo from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Barclays increased their price objective on shares of Duolingo from $295.00 to $330.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Finally, 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 report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $376.25.

Remove Ads

Insider Buying and Selling

In other news, CFO Matthew Skaruppa sold 5,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $324.48, for a total transaction of $1,622,400.00. Following the completion of the sale, the chief financial officer now directly owns 67,730 shares in the company, valued at $21,977,030.40. This represents a 6.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $336.23, for a total transaction of $3,362,300.00. Following the transaction, the insider now directly owns 72 shares in the company, valued at approximately $24,208.56. This trade represents a 99.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,499 shares of company stock worth $32,677,268 in the last three months. Corporate insiders own 18.30% of the company's stock.

Duolingo Stock Up 2.4 %

NASDAQ:DUOL traded up $7.85 during mid-day trading on Tuesday, hitting $337.85. The stock had a trading volume of 335,168 shares, compared to its average volume of 702,187. Duolingo, Inc. has a twelve month low of $145.05 and a twelve month high of $441.77. The stock has a 50-day simple moving average of $347.86 and a two-hundred day simple moving average of $321.31. The company has a market capitalization of $15.29 billion, a PE ratio of 184.62 and a beta of 0.92. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.19). Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The firm had revenue of $209.55 million for the quarter, compared to analyst estimates of $205.49 million. On average, equities research analysts anticipate that Duolingo, Inc. will post 2.03 EPS for the current year.

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.