Atria Wealth Solutions Inc. Sells 350 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Atria Wealth Solutions Inc. reduced its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 14.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,030 shares of the company’s stock after selling 350 shares during the period. Atria Wealth Solutions Inc.’s holdings in Duolingo were worth $630,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new stake in shares of Duolingo during the first quarter worth $3,772,000. Encompass More Asset Management purchased a new position in Duolingo in the 1st quarter worth about $762,000. TD Asset Management Inc lifted its holdings in Duolingo by 12.7% during the 1st quarter. TD Asset Management Inc now owns 107,520 shares of the company’s stock valued at $33,389,000 after buying an additional 12,138 shares in the last quarter. Congress Asset Management Co. purchased a new stake in Duolingo in the 1st quarter valued at about $15,430,000. Finally, SBI Securities Co. Ltd. grew its stake in Duolingo by 41.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,158 shares of the company’s stock worth $1,291,000 after acquiring an additional 1,211 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

DUOL has been the subject of several research analyst reports. Needham & Company LLC lifted their price target on shares of Duolingo from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. DA Davidson decreased their target price on Duolingo from $600.00 to $500.00 and set a “buy” rating for the company in a research report on Wednesday, June 25th. Morgan Stanley upped their target price on Duolingo from $480.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Piper Sandler set a $375.00 price target on Duolingo in a research note on Friday, May 2nd. Finally, Citizens Jmp decreased their price objective on Duolingo from $475.00 to $450.00 and set a “mkt outperform” rating for the company in a report on Monday, July 28th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $454.20.

Duolingo Trading Down 5.2%

NASDAQ:DUOL opened at $322.93 on Wednesday. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 132.89, a PEG ratio of 2.27 and a beta of 0.87. Duolingo, Inc. has a 52 week low of $185.10 and a 52 week high of $544.93. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $403.36 and a 200 day moving average of $392.32.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.55 by $0.36. Duolingo had a return on equity of 13.32% and a net margin of 13.24%. The firm had revenue of $252.27 million during the quarter, compared to analyst estimates of $240.84 million. During the same quarter in the prior year, the business posted $0.51 EPS. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $344.41, for a total transaction of $3,444,100.00. Following the transaction, the insider owned 72 shares in the company, valued at $24,797.52. This represents a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 50,000 shares of company stock valued at $20,939,300 over the last three months. 18.30% of the stock is currently owned by company insiders.

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.