Rhumbline Advisers Raises Stake in Duolingo, Inc. (NASDAQ:DUOL)

Rhumbline Advisers lifted its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,345 shares of the company's stock after purchasing an additional 1,403 shares during the period. Rhumbline Advisers owned 0.24% of Duolingo worth $34,480,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in DUOL. FMR LLC grew its stake in Duolingo by 26.9% in the 3rd quarter. FMR LLC now owns 2,663,234 shares of the company's stock worth $751,085,000 after buying an additional 564,173 shares in the last quarter. State Street Corp grew its stake in Duolingo by 3.6% in the 3rd quarter. State Street Corp now owns 1,076,273 shares of the company's stock worth $303,530,000 after buying an additional 36,923 shares in the last quarter. Geode Capital Management LLC grew its stake in Duolingo by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 672,800 shares of the company's stock worth $189,790,000 after buying an additional 16,481 shares in the last quarter. International Assets Investment Management LLC grew its stake in Duolingo by 30,909.9% in the 3rd quarter. International Assets Investment Management LLC now owns 355,063 shares of the company's stock worth $100,135,000 after buying an additional 353,918 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Duolingo by 42.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company's stock worth $96,530,000 after buying an additional 101,653 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Duolingo Stock Down 8.6 %

DUOL stock traded down $36.43 during trading on Friday, hitting $385.35. 1,079,279 shares of the stock traded hands, compared to its average volume of 646,053. Duolingo, Inc. has a 1 year low of $145.05 and a 1 year high of $441.77. The firm's 50 day moving average is $356.02 and its two-hundred day moving average is $301.79. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 210.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC upped their price objective on shares of Duolingo from $370.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. DA Davidson upped their price objective on shares of Duolingo from $250.00 to $350.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Piper Sandler upped their price objective on shares of Duolingo from $271.00 to $351.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. UBS Group upped their price objective on shares of Duolingo from $408.00 to $410.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Finally, Scotiabank started coverage on shares of Duolingo in a report on Thursday, December 5th. They set a "sector outperform" rating and a $425.00 price target for the company. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $355.55.

Insider Activity at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $369.33, for a total transaction of $553,995.00. Following the sale, the insider now owns 132,239 shares of the company's stock, valued at $48,839,829.87. This trade represents a 1.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew Skaruppa sold 4,464 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $313.55, for a total transaction of $1,399,687.20. Following the sale, the chief financial officer now directly owns 63,266 shares in the company, valued at approximately $19,837,054.30. The trade was a 6.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 305,639 shares of company stock valued at $105,445,057. 18.30% of the stock is owned by insiders.

About Duolingo

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.