Readystate Asset Management LP Buys New Shares in Duolingo, Inc. (NASDAQ:DUOL)

Readystate Asset Management LP acquired a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,000 shares of the company's stock, valued at approximately $5,076,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC acquired a new stake in shares of Duolingo during the 3rd quarter valued at $26,000. First Horizon Advisors Inc. purchased a new stake in shares of Duolingo in the third quarter valued at $29,000. Farther Finance Advisors LLC lifted its holdings in shares of Duolingo by 164.6% in the third quarter. Farther Finance Advisors LLC now owns 127 shares of the company's stock valued at $36,000 after purchasing an additional 79 shares in the last quarter. Blue Trust Inc. purchased a new stake in shares of Duolingo in the second quarter valued at $32,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Duolingo in the second quarter valued at $31,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Duolingo Stock Up 2.6 %

Duolingo stock traded up $9.61 during mid-day trading on Thursday, hitting $374.26. 312,523 shares of the company's stock were exchanged, compared to its average volume of 689,883. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock has a market cap of $16.46 billion, a P/E ratio of 205.30 and a beta of 0.85. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $378.08. The stock has a 50 day moving average of $307.07 and a two-hundred day moving average of $237.24.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its 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 firm had revenue of $192.59 million for the quarter, compared to the consensus estimate of $189.19 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business's quarterly revenue was up 39.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. As a group, analysts anticipate that Duolingo, Inc. will post 2.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Natalie Glance sold 1,500 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $313.36, for a total value of $470,040.00. Following the sale, the insider now directly owns 136,760 shares of the company's stock, valued at approximately $42,855,113.60. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Meese sold 4,819 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $240.02, for a total value of $1,156,656.38. Following the completion of the sale, the insider now directly owns 157,053 shares in the company, valued at approximately $37,695,861.06. This represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,319 shares of company stock valued at $5,134,526 over the last three months. 18.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group increased their target price on Duolingo from $355.00 to $408.00 and gave the company a "buy" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on Duolingo from $303.00 to $360.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Bank of America increased their target price on Duolingo from $292.00 to $298.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. JMP Securities lowered Duolingo from an "outperform" rating to a "market perform" rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group increased their price objective on Duolingo from $250.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $340.70.

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.