Durable Capital Partners LP Sells 710,481 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Durable Capital Partners LP lowered its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,319,294 shares of the company's stock after selling 710,481 shares during the period. Duolingo makes up about 6.1% of Durable Capital Partners LP's investment portfolio, making the stock its 2nd largest position. Durable Capital Partners LP owned approximately 5.27% of Duolingo worth $751,985,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bridgefront Capital LLC acquired a new position in shares of Duolingo in the 4th quarter valued at approximately $336,000. Captrust Financial Advisors increased 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 period. Bank of America Corp DE raised its stake in Duolingo by 23.4% during the 4th quarter. Bank of America Corp DE now owns 160,239 shares of the company's stock valued at $51,954,000 after acquiring an additional 30,438 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Duolingo in the 4th quarter worth approximately $9,708,000. Finally, Algert Global LLC boosted its stake in Duolingo by 15.3% during the fourth quarter. Algert Global LLC now owns 33,714 shares of the company's stock valued at $10,931,000 after buying an additional 4,471 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Insiders Place Their Bets

In other news, insider Natalie Glance sold 2,667 shares of the business's stock in a transaction dated 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 in the company, valued at $56,400,100.16. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Severin Hacker sold 10,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $495.95, for a total transaction of $4,959,500.00. Following the sale, the insider now directly owns 72 shares in the company, valued at $35,708.40. This trade represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,868 shares of company stock valued at $38,594,200. Company insiders own 15.67% of the company's stock.

Duolingo Price Performance

NASDAQ DUOL traded up $4.60 during trading hours on Monday, reaching $517.35. 418,484 shares of the company's stock were exchanged, compared to its average volume of 722,499. The firm has a fifty day moving average of $342.98 and a 200-day moving average of $344.74. 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 stock has a market cap of $23.52 billion, a PE ratio of 283.25 and a beta of 0.88. Duolingo, Inc. has a one year low of $145.05 and a one year high of $556.33.

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

Analyst Ratings Changes

Several research firms have recently weighed in on DUOL. DA Davidson lifted their target price on shares of Duolingo from $410.00 to $470.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price objective on Duolingo from $360.00 to $500.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Citizens Jmp upgraded Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 price target on the stock in a report on Tuesday, March 18th. Barclays boosted their target price on shares of Duolingo from $330.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Evercore ISI raised their price objective on shares of Duolingo from $400.00 to $480.00 and gave the stock an "outperform" rating in a research note 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.29.

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.