Geode Capital Management LLC lifted its stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 2.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 672,800 shares of the company's stock after purchasing an additional 16,481 shares during the quarter. Geode Capital Management LLC owned 1.55% of Duolingo worth $189,790,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Barclays PLC lifted its stake in Duolingo by 90.9% during the third 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 in the last quarter. MML Investors Services LLC acquired a new stake in shares of Duolingo during the third quarter valued at approximately $1,301,000. Legacy Investment Solutions LLC purchased a new stake in shares of Duolingo in the 3rd quarter valued at approximately $1,699,000. Zacks Investment Management grew its position in Duolingo by 85.5% during the 3rd quarter. Zacks Investment Management now owns 10,733 shares of the company's stock worth $3,027,000 after purchasing an additional 4,946 shares in the last quarter. Finally, State Street Corp raised its stake in Duolingo by 3.6% during the 3rd quarter. State Street Corp now owns 1,076,273 shares of the company's stock valued at $303,530,000 after purchasing an additional 36,923 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.
In other Duolingo news, insider Severin Hacker sold 188,901 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $339.54, for a total transaction of $64,139,445.54. Following the completion of the sale, the insider now directly owns 72 shares in the company, valued at $24,446.88. This represents a 99.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $280.91, for a total value of $421,365.00. Following the sale, the insider now owns 138,260 shares of the company's stock, valued at approximately $38,838,616.60. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,220 shares of company stock valued at $69,516,702 over the last quarter. Insiders own 18.30% of the company's stock.
Several analysts have recently commented on DUOL shares. DA Davidson raised their target price on Duolingo from $250.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Piper Sandler raised their price objective on Duolingo from $271.00 to $351.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Needham & Company LLC upped their target price on Duolingo from $310.00 to $370.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Barclays increased their price target on shares of Duolingo from $183.00 to $295.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Finally, Scotiabank assumed coverage on shares of Duolingo in a research report on Thursday, December 5th. They set a "sector outperform" rating and a $425.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $352.40.
Check Out Our Latest Research Report on Duolingo
Shares of DUOL opened at $338.07 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The firm has a market cap of $14.87 billion, a PE ratio of 184.74 and a beta of 0.85. Duolingo, Inc. has a twelve month low of $145.05 and a twelve month high of $378.48. The firm's 50 day moving average price is $317.36 and its 200 day moving average price is $246.15.
Duolingo (NASDAQ:DUOL - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $189.19 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. Duolingo's quarterly revenue was up 39.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. As a group, research analysts expect that Duolingo, Inc. will post 2.02 EPS for the current fiscal year.
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.
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