Bank of America Corp DE Raises Position in Duolingo, Inc. (NASDAQ:DUOL)

Bank of America Corp DE lifted its position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,239 shares of the company's stock after buying an additional 30,438 shares during the period. Bank of America Corp DE owned approximately 0.36% of Duolingo worth $51,954,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Barclays PLC increased its position in Duolingo by 90.9% during the 3rd quarter. Barclays PLC now owns 42,613 shares of the company's stock valued at $12,018,000 after buying an additional 20,289 shares in the last quarter. Oak Thistle LLC acquired a new stake in Duolingo in the fourth quarter worth about $245,000. Merit Financial Group LLC grew its stake in shares of Duolingo by 8.6% during the fourth quarter. Merit Financial Group LLC now owns 8,642 shares of the company's stock worth $2,802,000 after acquiring an additional 683 shares during the last quarter. Hanseatic Management Services Inc. acquired a new position in shares of Duolingo during the fourth quarter valued at about $683,000. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Duolingo by 6.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 2,908 shares of the company's stock valued at $943,000 after acquiring an additional 168 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on DUOL shares. The Goldman Sachs Group lifted their target price on shares of Duolingo from $340.00 to $403.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. raised their price target on shares of Duolingo from $360.00 to $500.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Barclays boosted their price objective on shares of Duolingo from $330.00 to $375.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Citizens Jmp raised 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, Scotiabank lifted their price target on Duolingo from $405.00 to $470.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $426.29.

Duolingo Stock Performance

Duolingo stock traded down $1.47 during midday trading on Friday, hitting $529.05. 694,684 shares of the company were exchanged, compared to its average volume of 716,777. The business has a fifty day simple moving average of $362.62 and a two-hundred day simple moving average of $350.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The firm has a market capitalization of $24.05 billion, a PE ratio of 289.10 and a beta of 0.88. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $544.93.

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

Insider Transactions at Duolingo

In related news, insider Severin Hacker sold 10,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $495.95, for a total value of $4,959,500.00. Following the completion of the transaction, the insider now owns 72 shares of the company's stock, valued at approximately $35,708.40. This represents a 99.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ahn Luis Von sold 8,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $434.79, for a total value of $3,478,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 109,868 shares of company stock valued at $38,594,200 in the last ninety days. 15.67% of the stock is currently owned by corporate 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.