CIBC Asset Management Inc Boosts Holdings in Duolingo, Inc. (NASDAQ:DUOL)

CIBC Asset Management Inc boosted its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 5.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,120 shares of the company’s stock after purchasing an additional 59 shares during the period. CIBC Asset Management Inc’s holdings in Duolingo were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. True Wealth Design LLC acquired a new position in Duolingo in the third quarter valued at approximately $26,000. First Horizon Advisors Inc. purchased a new position in shares of Duolingo during the 3rd quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Duolingo during the fourth quarter worth $31,000. Farther Finance Advisors LLC boosted its holdings 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 buying an additional 79 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Duolingo during the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DUOL. Seaport Res Ptn downgraded shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Barclays increased their price target on Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Needham & Company LLC boosted their price objective on Duolingo from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JMP Securities reiterated a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and a consensus target price of $355.55.

Insider Transactions at Duolingo

In related news, CFO Matthew Skaruppa sold 4,464 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $313.55, for a total transaction of $1,399,687.20. Following the sale, the chief financial officer now owns 63,266 shares of the company’s stock, valued at approximately $19,837,054.30. The trade was a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stephen C. Chen sold 2,064 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $435.12, for a total value of $898,087.68. Following the sale, the general counsel now directly owns 34,634 shares in the company, valued at $15,069,946.08. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 305,639 shares of company stock valued at $105,445,057. Corporate insiders own 18.30% of the company’s stock.

Duolingo Stock Performance

NASDAQ:DUOL opened at $385.35 on Monday. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $441.77. The firm has a market cap of $16.95 billion, a price-to-earnings ratio of 210.57 and a beta of 0.89. 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 firm’s fifty day moving average price is $356.96 and its 200 day moving average price is $305.34.

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.