Zacks Investment Management Buys 4,946 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Zacks Investment Management grew its stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 85.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,733 shares of the company's stock after buying an additional 4,946 shares during the period. Zacks Investment Management's holdings in Duolingo were worth $3,027,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DUOL. Mount Lucas Management LP increased its stake in shares of Duolingo by 2.4% in the third quarter. Mount Lucas Management LP now owns 1,340 shares of the company's stock worth $378,000 after purchasing an additional 32 shares during the period. CIBC Asset Management Inc increased its position in Duolingo by 3.1% in the 3rd quarter. CIBC Asset Management Inc now owns 1,061 shares of the company's stock worth $299,000 after buying an additional 32 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Duolingo by 3.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,962 shares of the company's stock worth $409,000 after buying an additional 73 shares during the last quarter. Farther Finance Advisors LLC increased its position in Duolingo by 164.6% during the third quarter. Farther Finance Advisors LLC now owns 127 shares of the company's stock worth $36,000 after acquiring an additional 79 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in Duolingo by 19.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 520 shares of the company's stock valued at $109,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DUOL shares. Piper Sandler upped their price objective on Duolingo from $271.00 to $351.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Seaport Res Ptn cut Duolingo from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Barclays lifted their price objective on Duolingo from $183.00 to $295.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Needham & Company LLC upped their target price on shares of Duolingo from $310.00 to $370.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, DA Davidson lifted their price target on shares of Duolingo from $250.00 to $350.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Duolingo presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.70.

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 shares were sold at an average price of $313.36, for a total transaction of $470,040.00. Following the completion of the sale, the insider now owns 136,760 shares of the company's stock, valued at $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 is available through the SEC website. Also, insider Robert Meese sold 4,819 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $240.02, for a total transaction of $1,156,656.38. Following the sale, the insider now owns 157,053 shares in the company, valued at $37,695,861.06. This represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,319 shares of company stock valued at $5,377,256. 18.30% of the stock is owned by company insiders.

Duolingo Stock Performance

DUOL stock traded down $7.89 during trading hours on Monday, reaching $360.61. The stock had a trading volume of 532,095 shares, compared to its average volume of 689,856. The stock has a 50-day simple moving average of $310.78 and a 200 day simple moving average of $240.36. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $378.48. The stock has a market capitalization of $15.86 billion, a PE ratio of 197.06 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.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. The business had revenue of $192.59 million during the quarter, compared to the consensus estimate of $189.19 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The company's quarterly revenue was up 39.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. Analysts predict that Duolingo, Inc. will post 2.02 EPS for the current fiscal 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.