Wells Fargo & Company MN Lowers Holdings in Duolingo, Inc. (NASDAQ:DUOL)

Wells Fargo & Company MN reduced its stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 20.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,951 shares of the company's stock after selling 1,533 shares during the quarter. Wells Fargo & Company MN's holdings in Duolingo were worth $1,929,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its position in Duolingo by 90.9% in the 3rd quarter. Barclays PLC now owns 42,613 shares of the company's stock valued at $12,018,000 after buying an additional 20,289 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Duolingo during the third quarter valued at approximately $199,000. Tidal Investments LLC grew its stake in Duolingo by 8.0% in the third quarter. Tidal Investments LLC now owns 1,561 shares of the company's stock worth $440,000 after purchasing an additional 115 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in Duolingo by 63.6% during the 3rd 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. Finally, GAMMA Investing LLC raised its position in Duolingo by 60.1% during the 4th quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $185,000 after purchasing an additional 214 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on DUOL. Needham & Company LLC raised their price target on Duolingo from $385.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price objective on shares of Duolingo from $410.00 to $360.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. DA Davidson boosted their price objective on shares of Duolingo from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Morgan Stanley initiated coverage on Duolingo in a research report on Wednesday, April 23rd. They set an "overweight" rating and a $435.00 target price on the stock. Finally, Barclays boosted their price target on Duolingo from $295.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $376.15.

Insider Buying and Selling at Duolingo

In related news, General Counsel Stephen C. Chen sold 2,064 shares of Duolingo stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $435.12, for a total transaction of $898,087.68. Following the completion of the sale, the general counsel now owns 34,634 shares of the company's stock, valued at $15,069,946.08. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ahn Luis Von sold 8,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $434.79, for a total transaction of $3,478,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,868 shares of company stock worth $35,574,300. 18.30% of the stock is currently owned by insiders.

Duolingo Stock Performance

Shares of Duolingo stock traded up $0.79 during midday trading on Tuesday, hitting $385.13. The company had a trading volume of 1,405,761 shares, compared to its average volume of 718,674. The stock has a market cap of $17.42 billion, a price-to-earnings ratio of 210.45 and a beta of 0.91. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $441.77. 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 simple moving average of $324.75 and a 200 day simple moving average of $333.63.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly earnings data 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 return on equity of 11.74% and a net margin of 12.59%. The company had revenue of $209.55 million for the quarter, compared to analyst estimates of $205.49 million. As a group, analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal 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.