Wedmont Private Capital Acquires New Position in Duolingo, Inc. (NASDAQ:DUOL)

Wedmont Private Capital acquired a new stake in Duolingo, Inc. (NASDAQ:DUOL) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 778 shares of the company’s stock, valued at approximately $256,000.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Duolingo by 39.9% during the fourth quarter. FMR LLC now owns 3,726,561 shares of the company’s stock valued at $1,208,263,000 after acquiring an additional 1,063,327 shares in the last quarter. Vanguard Group Inc. increased its holdings in Duolingo by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,542,194 shares of the company’s stock worth $1,148,486,000 after purchasing an additional 70,705 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Duolingo by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company’s stock worth $434,398,000 after purchasing an additional 10,638 shares during the period. Invesco Ltd. raised its position in Duolingo by 53.5% during the 4th quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock valued at $351,811,000 after purchasing an additional 378,225 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Duolingo by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 683,498 shares of the company’s stock valued at $221,676,000 after purchasing an additional 10,698 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Duolingo from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Barclays upped their price objective on shares of Duolingo from $330.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. The Goldman Sachs Group raised their target price on shares of Duolingo from $340.00 to $403.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. DA Davidson boosted their price target on shares of Duolingo from $470.00 to $600.00 and gave the company a “buy” rating in a report on Friday, May 30th. Finally, Morgan Stanley upped their price target on shares of Duolingo from $435.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Duolingo currently has a consensus rating of “Moderate Buy” and an average price target of $441.29.

Insider Buying and Selling

In other Duolingo news, insider Severin Hacker sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $292.43, for a total value of $2,924,300.00. Following the completion of the sale, the insider now owns 72 shares of the company’s stock, valued at approximately $21,054.96. This trade represents a 99.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ahn Luis Von sold 8,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $293.80, for a total value of $2,350,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 94,833 shares of company stock worth $34,257,319 in the last ninety days. 15.67% of the stock is owned by insiders.

Duolingo Trading Down 2.5%

NASDAQ DUOL opened at $473.78 on Thursday. Duolingo, Inc. has a 52 week low of $145.05 and a 52 week high of $544.93. The company has a 50 day moving average price of $441.17 and a 200 day moving average price of $376.83. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The firm has a market cap of $21.54 billion, a PE ratio of 258.90 and a beta of 1.00.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.20. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business had revenue of $230.74 million for the quarter, compared to analyst estimates of $223.15 million. Duolingo’s quarterly revenue was up 37.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

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.