Renaissance Technologies LLC Has $144.32 Million Stock Holdings in Duolingo, Inc. (NASDAQ:DUOL)

Renaissance Technologies LLC boosted its stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 15.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 445,100 shares of the company's stock after purchasing an additional 58,000 shares during the quarter. Renaissance Technologies LLC owned about 1.01% of Duolingo worth $144,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Duolingo by 39.9% during the 4th quarter. FMR LLC now owns 3,726,561 shares of the company's stock worth $1,208,263,000 after buying an additional 1,063,327 shares during the period. Norges Bank bought a new stake in Duolingo during the fourth quarter valued at about $152,296,000. Invesco Ltd. grew its position in shares of Duolingo by 53.5% in the fourth quarter. Invesco Ltd. now owns 1,085,066 shares of the company's stock valued at $351,811,000 after purchasing an additional 378,225 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Duolingo by 33.5% in the fourth quarter. Federated Hermes Inc. now owns 351,231 shares of the company's stock worth $113,880,000 after purchasing an additional 88,218 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of Duolingo by 63.6% in the third quarter. Lord Abbett & CO. LLC now owns 197,670 shares of the company's stock worth $55,747,000 after purchasing an additional 76,875 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Insider Activity at Duolingo

In other news, CEO Ahn Luis Von sold 8,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $321.00, for a total transaction of $2,568,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Matthew Skaruppa sold 4,464 shares of Duolingo stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $313.55, for a total value of $1,399,687.20. Following the completion of the transaction, the chief financial officer now directly owns 63,266 shares of the company's stock, valued at $19,837,054.30. This represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,332 shares of company stock valued at $33,442,107 in the last ninety days. Insiders own 18.30% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citizens Jmp raised Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 target price on the stock in a report on Tuesday, March 18th. Jefferies Financial Group initiated coverage on shares of Duolingo in a research note on Friday, January 24th. They issued a "hold" rating and a $370.00 price objective on the stock. Barclays upped their target price on shares of Duolingo from $295.00 to $330.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. JMP Securities restated a "market perform" rating on shares of Duolingo in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Duolingo from $410.00 to $360.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $372.92.

Duolingo Price Performance

NASDAQ DUOL traded up $12.41 during trading on Friday, reaching $329.35. 866,829 shares of the company traded hands, compared to its average volume of 744,721. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $441.77. The company has a market cap of $14.90 billion, a price-to-earnings ratio of 179.97 and a beta of 0.91. The stock's 50 day moving average price is $339.41 and its two-hundred day moving average price is $328.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09.

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

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.