10,005 Shares in Duolingo, Inc. $DUOL Bought by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC opened a new position in Duolingo, buying 10,005 shares in Q3 valued at about $3.22 million.
• Duolingo beat expectations in the quarter, reporting EPS of $5.95 vs. $0.72 expected and revenue of $271.7 million, up 41.1% year-over-year.
• Insider selling has been notable — insiders sold 63,169 shares (~$14.8 million) in the last 90 days; insiders now own 15.67% of the stock while institutional investors hold 91.59%.

SteelPeak Wealth LLC bought a new position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,005 shares of the company's stock, valued at approximately $3,220,000.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC grew its position in shares of Duolingo by 40.3% in the third quarter. True Wealth Design LLC now owns 247 shares of the company's stock valued at $79,000 after purchasing an additional 71 shares during the last quarter. Accurate Wealth Management LLC bought a new stake in Duolingo during the 3rd quarter valued at approximately $207,000. Merit Financial Group LLC grew its holdings in Duolingo by 4.9% in the 3rd quarter. Merit Financial Group LLC now owns 11,155 shares of the company's stock valued at $3,590,000 after buying an additional 523 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Duolingo by 73.8% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 1,649 shares of the company's stock worth $531,000 after buying an additional 700 shares during the period. Finally, LifeWealth Investments LLC acquired a new position in shares of Duolingo during the third quarter worth approximately $223,000. 91.59% of the stock is currently owned by institutional investors.

Insider Activity

In other Duolingo news, General Counsel Stephen C. Chen sold 1,514 shares of the firm's stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $175.87, for a total transaction of $266,267.18. Following the sale, the general counsel directly owned 31,542 shares in the company, valued at approximately $5,547,291.54. This trade represents a 4.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matthew Skaruppa sold 3,059 shares of the business's stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $175.76, for a total transaction of $537,649.84. Following the completion of the sale, the chief financial officer directly owned 37,487 shares in the company, valued at $6,588,715.12. This represents a 7.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 63,169 shares of company stock valued at $14,821,451. 15.67% of the stock is currently owned by company insiders.

Duolingo Stock Down 0.9%

NASDAQ:DUOL opened at $175.50 on Friday. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 1.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.82 and a current ratio of 2.82. The stock's fifty day moving average price is $202.53 and its two-hundred day moving average price is $295.81. Duolingo, Inc. has a 52-week low of $166.27 and a 52-week high of $544.93.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $5.23. The business had revenue of $271.71 million for the quarter, compared to analysts' expectations of $260.14 million. Duolingo had a return on equity of 14.02% and a net margin of 40.03%.The firm's quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. On average, analysts anticipate that Duolingo, Inc. will post 2.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Duolingo from $500.00 to $450.00 and set a "buy" rating on the stock in a research note on Monday, October 20th. Zacks Research downgraded shares of Duolingo from a "strong-buy" rating to a "hold" rating in a report on Monday, October 13th. Wells Fargo & Company decreased their price target on shares of Duolingo from $239.00 to $185.00 and set an "underweight" rating on the stock in a research report on Thursday, November 6th. KeyCorp downgraded shares of Duolingo from an "overweight" rating to a "sector weight" rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Duolingo from $425.00 to $250.00 and set a "neutral" rating for the company in a research note on Friday, November 7th. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $329.44.

About Duolingo

Duolingo, Inc NASDAQ: DUOL is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company's core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.

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