Duolingo, Inc. (NASDAQ:DUOL) Shares Sold by Whale Rock Capital Management LLC

Whale Rock Capital Management LLC lessened its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,368,782 shares of the company's stock after selling 51,855 shares during the period. Duolingo accounts for approximately 5.4% of Whale Rock Capital Management LLC's investment portfolio, making the stock its 7th biggest holding. Whale Rock Capital Management LLC owned approximately 3.14% of Duolingo worth $386,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. True Wealth Design LLC purchased a new position in shares of Duolingo during the 3rd quarter worth approximately $26,000. First Horizon Advisors Inc. purchased a new position in Duolingo in the 3rd quarter valued at about $29,000. Larson Financial Group LLC bought a new position in shares of Duolingo during the second quarter worth about $31,000. Blue Trust Inc. bought a new position in shares of Duolingo during the second quarter valued at approximately $32,000. Finally, GAMMA Investing LLC raised its stake in Duolingo by 350.0% during the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company's stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Robert Meese sold 5,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $270.00, for a total value of $1,350,000.00. Following the sale, the insider now owns 147,053 shares of the company's stock, valued at approximately $39,704,310. This represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $470,040.00. Following the completion of the transaction, the insider now directly owns 136,760 shares in the company, valued at $42,855,113.60. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,819 shares of company stock worth $4,823,261 over the last three months. 18.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DUOL has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Duolingo from $250.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. JMP Securities lowered Duolingo from an "outperform" rating to a "market perform" rating in a research note on Monday, October 14th. UBS Group boosted their target price on Duolingo from $355.00 to $408.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Needham & Company LLC lifted their price objective on Duolingo from $310.00 to $370.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Scotiabank began coverage on Duolingo in a report on Thursday. They issued a "sector outperform" rating and a $425.00 price target for the company. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $340.70.

Duolingo Stock Performance

Shares of Duolingo stock traded down $4.50 during trading hours on Friday, reaching $368.53. The company had a trading volume of 350,900 shares, compared to its average volume of 689,636. The firm has a market cap of $16.21 billion, a PE ratio of 203.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. The business has a fifty day simple moving average of $308.97 and a 200 day simple moving average of $238.18. Duolingo, Inc. has a one year low of $145.05 and a one year high of $378.48.

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