Duolingo, Inc. (NASDAQ:DUOL) is Durable Capital Partners LP's 2nd Largest Position

Durable Capital Partners LP lowered its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 23.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,319,294 shares of the company's stock after selling 710,481 shares during the period. Duolingo comprises about 6.1% of Durable Capital Partners LP's holdings, making the stock its 2nd largest holding. Durable Capital Partners LP owned approximately 5.27% of Duolingo worth $751,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bridgefront Capital LLC bought a new stake in Duolingo in the 4th quarter worth approximately $336,000. Captrust Financial Advisors lifted its holdings in shares of Duolingo by 19.3% in the 4th quarter. Captrust Financial Advisors now owns 15,354 shares of the company's stock worth $4,978,000 after acquiring an additional 2,483 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Duolingo by 23.4% in the 4th quarter. Bank of America Corp DE now owns 160,239 shares of the company's stock valued at $51,954,000 after purchasing an additional 30,438 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Duolingo during the 4th quarter valued at $9,708,000. Finally, Algert Global LLC raised its position in Duolingo by 15.3% in the 4th quarter. Algert Global LLC now owns 33,714 shares of the company's stock worth $10,931,000 after purchasing an additional 4,471 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on DUOL shares. Morgan Stanley upped their price target on shares of Duolingo from $435.00 to $515.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Scotiabank raised 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. Jefferies Financial Group initiated coverage on Duolingo in a research report on Friday, January 24th. They issued a "hold" rating and a $370.00 price objective for the company. Needham & Company LLC raised their target price on shares of Duolingo from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Duolingo from $360.00 to $500.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Duolingo has an average rating of "Moderate Buy" and a consensus price target of $426.29.

Insiders Place Their Bets

In other Duolingo news, insider Natalie Glance sold 2,667 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $435.28, for a total value of $1,160,891.76. Following the sale, the insider now directly owns 129,572 shares of the company's stock, valued at approximately $56,400,100.16. The trade was a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stephen C. Chen sold 2,064 shares of the firm's 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,868 shares of company stock worth $38,594,200. 15.67% of the stock is currently owned by company insiders.

Duolingo Stock Up 1.9 %

Shares of DUOL stock traded up $9.40 during midday trading on Friday, reaching $512.97. 604,321 shares of the stock were exchanged, compared to its average volume of 728,165. The firm has a market cap of $23.32 billion, a PE ratio of 280.31 and a beta of 0.88. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The company's 50 day moving average is $342.98 and its two-hundred day moving average is $343.86. Duolingo, Inc. has a 1 year low of $145.05 and a 1 year high of $513.87.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.72 EPS for the quarter, beating the consensus estimate 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 return on equity of 11.74% and a net margin of 12.59%. The business's quarterly revenue was up 37.6% compared to the same quarter last year. On average, equities research analysts predict that Duolingo, Inc. will post 2.03 EPS for the current year.

Duolingo 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.