Comerica Bank Trims Stock Holdings in Duolingo, Inc. (NASDAQ:DUOL)

Comerica Bank lowered its stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,671 shares of the company's stock after selling 590 shares during the period. Comerica Bank's holdings in Duolingo were worth $5,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DUOL. FMR LLC boosted its holdings in shares of Duolingo by 39.9% during the fourth quarter. FMR LLC now owns 3,726,561 shares of the company's stock worth $1,208,263,000 after purchasing an additional 1,063,327 shares during the last quarter. Norges Bank acquired a new stake in Duolingo in the 4th quarter worth about $152,296,000. T. Rowe Price Investment Management Inc. grew its holdings in Duolingo by 548.8% in 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 period. Invesco Ltd. increased its stake in shares of 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 acquiring an additional 378,225 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Duolingo by 36.6% during the 4th quarter. Marshall Wace LLP now owns 388,742 shares of the company's stock worth $126,042,000 after acquiring an additional 104,114 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Duolingo Price Performance

Shares of NASDAQ DUOL opened at $494.13 on Tuesday. The business has a 50 day moving average price of $328.46 and a two-hundred day moving average price of $338.64. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $504.31. The firm has a market cap of $22.36 billion, a PE ratio of 270.02 and a beta of 0.88. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

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

Insider Transactions at Duolingo

In other Duolingo news, General Counsel Stephen C. Chen sold 2,064 shares of Duolingo stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total value of $898,087.68. Following the completion of the transaction, the general counsel now owns 34,634 shares of the company's stock, valued at $15,069,946.08. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Severin Hacker sold 10,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $391.46, for a total transaction of $3,914,600.00. Following the sale, the insider now directly owns 72 shares in the company, valued at $28,185.12. This trade represents a 99.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,868 shares of company stock valued at $37,549,300. Insiders own 18.30% of the company's stock.

Wall Street Analysts Forecast Growth

DUOL has been the subject of several research analyst reports. Barclays upped their price target on shares of Duolingo from $330.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Friday. Needham & Company LLC increased their target price on Duolingo from $400.00 to $460.00 and gave the stock a "buy" rating in a research report on Friday. Jefferies Financial Group assumed coverage on Duolingo in a research report on Friday, January 24th. They set a "hold" rating and a $370.00 price target for the company. Morgan Stanley raised their price objective on Duolingo from $435.00 to $515.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Piper Sandler lifted their price objective on Duolingo from $390.00 to $465.00 and gave the company an "overweight" rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $432.71.

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.

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