Maryland State Retirement & Pension System Sells 358 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Maryland State Retirement & Pension System cut its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 17.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,737 shares of the company’s stock after selling 358 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Duolingo were worth $539,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its stake in Duolingo by 548.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company’s stock valued at $152,659,000 after buying an additional 398,259 shares during the last quarter. GAMMA Investing LLC raised its stake in Duolingo by 41,959.1% during the 1st quarter. GAMMA Investing LLC now owns 239,737 shares of the company’s stock valued at $74,448,000 after buying an additional 239,167 shares during the last quarter. Voloridge Investment Management LLC raised its stake in Duolingo by 270.3% during the 4th quarter. Voloridge Investment Management LLC now owns 146,674 shares of the company’s stock valued at $47,556,000 after buying an additional 107,063 shares during the last quarter. Twinbeech Capital LP purchased a new stake in Duolingo during the 4th quarter valued at $24,159,000. Finally, First Trust Advisors LP raised its stake in Duolingo by 67.6% during the 4th quarter. First Trust Advisors LP now owns 177,152 shares of the company’s stock valued at $57,438,000 after buying an additional 71,449 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $344.41, for a total value of $3,444,100.00. Following the completion of the transaction, the insider owned 72 shares of the company’s stock, valued at approximately $24,797.52. This represents a 99.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 50,000 shares of company stock valued at $20,939,300. Corporate insiders own 15.67% of the company’s stock.

Analysts Set New Price Targets

DUOL has been the subject of a number of research reports. Argus initiated coverage on shares of Duolingo in a research note on Wednesday, June 25th. They set a “buy” rating and a $575.00 target price for the company. DA Davidson decreased their target price on shares of Duolingo from $600.00 to $500.00 and set a “buy” rating for the company in a research note on Wednesday, June 25th. Barclays boosted their target price on shares of Duolingo from $375.00 to $390.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Citizens Jmp decreased their target price on shares of Duolingo from $475.00 to $450.00 and set a “mkt outperform” rating for the company in a research note on Monday, July 28th. Finally, Piper Sandler set a $375.00 price objective on Duolingo in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $454.20.

Duolingo Trading Up 0.6%

Shares of Duolingo stock opened at $329.88 on Friday. The company has a market capitalization of $14.99 billion, a P/E ratio of 135.75, a P/E/G ratio of 2.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.81 and a current ratio of 2.81. The company has a fifty day moving average of $395.68 and a 200 day moving average of $391.90. Duolingo, Inc. has a fifty-two week low of $195.94 and a fifty-two week high of $544.93.

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

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.