Raymond James Financial Inc. Makes New $6.68 Million Investment in Duolingo, Inc. (NASDAQ:DUOL)

Raymond James Financial Inc. acquired a new stake in Duolingo, Inc. (NASDAQ:DUOL) during the 4th quarter, Holdings Channel.com reports. The firm acquired 20,594 shares of the company’s stock, valued at approximately $6,677,000.

A number of other large investors have also made changes to their positions in the stock. Kensington Investment Counsel LLC boosted its stake in shares of Duolingo by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 5,633 shares of the company’s stock worth $1,826,000 after purchasing an additional 30 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Duolingo by 3.9% during the fourth quarter. Atria Investments Inc now owns 1,029 shares of the company’s stock valued at $334,000 after buying an additional 39 shares during the period. Lisanti Capital Growth LLC lifted its stake in shares of Duolingo by 0.3% during the fourth quarter. Lisanti Capital Growth LLC now owns 11,685 shares of the company’s stock valued at $3,789,000 after buying an additional 40 shares during the period. Fifth Third Bancorp boosted its position in Duolingo by 19.3% during the fourth quarter. Fifth Third Bancorp now owns 260 shares of the company’s stock worth $84,000 after acquiring an additional 42 shares during the last quarter. Finally, Smithfield Trust Co grew its stake in Duolingo by 41.8% in the 4th quarter. Smithfield Trust Co now owns 156 shares of the company’s stock worth $51,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Duolingo in a research note on Friday, January 24th. They set a “hold” rating and a $370.00 price target on the stock. Piper Sandler raised their price target on Duolingo from $351.00 to $390.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. UBS Group dropped their price objective on shares of Duolingo from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Citizens Jmp raised shares of Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a research report on Tuesday, March 18th. Finally, Barclays upped their price target on shares of Duolingo from $295.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $376.15.

Duolingo Price Performance

Shares of DUOL stock opened at $370.00 on Thursday. Duolingo, Inc. has a twelve month low of $145.05 and a twelve month high of $441.77. The company has a market capitalization of $16.74 billion, a PE ratio of 202.19 and a beta of 0.91. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $328.05 and a 200-day simple moving average of $331.07.

Duolingo (NASDAQ:DUOL) last announced its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business had revenue of $209.55 million for the quarter, compared to analyst estimates of $205.49 million. Equities research analysts anticipate that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Duolingo

In related news, insider Natalie Glance sold 9,020 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $290.59, for a total value of $2,621,121.80. Following the sale, the insider now directly owns 130,733 shares of the company’s stock, valued at $37,989,702.47. This represents a 6.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Stephen C. Chen sold 2,064 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $435.12, for a total transaction of $898,087.68. Following the transaction, the general counsel now directly owns 34,634 shares of the company’s stock, valued at approximately $15,069,946.08. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,868 shares of company stock valued at $31,897,800 in the last three months. Corporate insiders own 18.30% of the company’s stock.

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.