59,504 Shares in Duolingo, Inc. (NASDAQ:DUOL) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 59,504 shares of the company’s stock, valued at approximately $16,559,000. Erste Asset Management GmbH owned approximately 0.14% of Duolingo at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in shares of Duolingo during the third quarter worth about $26,000. First Horizon Advisors Inc. purchased a new position in Duolingo during the 3rd quarter worth approximately $29,000. Farther Finance Advisors LLC lifted its stake in Duolingo by 164.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after acquiring an additional 79 shares during the period. Blue Trust Inc. purchased a new stake in shares of Duolingo in the 2nd quarter valued at $32,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Duolingo in the second quarter worth $31,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Duolingo Trading Up 0.2 %

Shares of NASDAQ:DUOL opened at $348.27 on Monday. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 190.31 and a beta of 0.79. The business’s 50 day moving average price is $302.18 and its 200-day moving average price is $233.46. 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, Inc. has a 1 year low of $145.05 and a 1 year high of $364.95.

Duolingo (NASDAQ:DUOL) last announced its 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. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business had revenue of $192.59 million for the quarter, compared to analyst estimates of $189.19 million. During the same quarter last year, the business 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 research analysts forecast that Duolingo, Inc. will post 2.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Duolingo from $303.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Seaport Res Ptn downgraded Duolingo from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC raised their price objective on shares of Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $331.33.

Insiders Place Their Bets

In related news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.51, for a total value of $311,265.00. Following the completion of the transaction, the insider now directly owns 139,760 shares of the company’s stock, valued at approximately $29,001,597.60. This represents a 1.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Skaruppa sold 14,000 shares of Duolingo stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.44, for a total transaction of $2,904,160.00. Following the sale, the chief financial officer now directly owns 88,856 shares in the company, valued at approximately $18,432,288.64. This trade represents a 13.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,319 shares of company stock worth $8,038,686. Corporate insiders own 18.30% of the company’s stock.

About Duolingo

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.