State Street Corp Has $303.53 Million Stake in Duolingo, Inc. (NASDAQ:DUOL)

State Street Corp boosted its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,076,273 shares of the company's stock after purchasing an additional 36,923 shares during the period. State Street Corp owned 2.47% of Duolingo worth $303,530,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC bought a new position in Duolingo during the third quarter valued at about $26,000. First Horizon Advisors Inc. acquired a new position in Duolingo during the third quarter valued at approximately $29,000. Larson Financial Group LLC bought a new position in shares of Duolingo in the second quarter valued at approximately $31,000. Blue Trust Inc. acquired a new stake in shares of Duolingo in the second quarter worth $32,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Duolingo during the 2nd quarter worth $36,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Natalie Glance sold 1,500 shares of the company'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 completion of the sale, the insider now owns 136,760 shares in the company, valued at approximately $42,855,113.60. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert Meese sold 4,819 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $240.02, for a total transaction of $1,156,656.38. Following the completion of the transaction, the insider now owns 157,053 shares of the company's stock, valued at $37,695,861.06. This trade represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,319 shares of company stock worth $5,377,256. 18.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Duolingo from $183.00 to $295.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. DA Davidson boosted their price objective on Duolingo from $250.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Seaport Res Ptn downgraded Duolingo from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Scotiabank assumed coverage on Duolingo in a research report on Thursday, December 5th. They issued a "sector outperform" rating and a $425.00 price target on the stock. Finally, The Goldman Sachs Group increased their price objective on Duolingo from $250.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Duolingo currently has a consensus rating of "Moderate Buy" and a consensus price target of $348.40.

Duolingo Stock Performance

Duolingo stock traded down $18.99 on Wednesday, hitting $342.84. The company's stock had a trading volume of 1,010,118 shares, compared to its average volume of 689,772. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $313.97 and a 200-day moving average price of $242.95. Duolingo, Inc. has a one year low of $145.05 and a one year high of $378.48. The firm has a market cap of $15.08 billion, a P/E ratio of 182.26 and a beta of 0.85.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.14. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm had revenue of $192.59 million during the quarter, compared to analysts' expectations of $189.19 million. During the same quarter last year, the company earned $0.06 earnings per share. The company's revenue for the quarter was up 39.9% compared to the same quarter last year. On average, equities analysts anticipate that Duolingo, Inc. will post 2.02 earnings per share 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.