Jennison Associates LLC Makes New Investment in Duolingo, Inc. (NASDAQ:DUOL)

Jennison Associates LLC acquired a new stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,560 shares of the company's stock, valued at approximately $484,000.

A number of other large investors have also recently bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new stake in shares of Duolingo in the first quarter worth about $25,000. Quarry LP lifted its holdings in Duolingo by 250.0% in the 4th quarter. Quarry LP now owns 91 shares of the company's stock worth $30,000 after purchasing an additional 65 shares during the last quarter. Garde Capital Inc. bought a new stake in Duolingo during the first quarter worth approximately $31,000. Whittier Trust Co. bought a new stake in Duolingo during the first quarter worth approximately $33,000. Finally, Versant Capital Management Inc grew its holdings in Duolingo by 323.1% during the first quarter. Versant Capital Management Inc now owns 110 shares of the company's stock valued at $34,000 after purchasing an additional 84 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Duolingo from $515.00 to $480.00 and set an "overweight" rating for the company in a research note on Tuesday, July 8th. JPMorgan Chase & Co. decreased their price target on shares of Duolingo from $580.00 to $500.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Argus began coverage on Duolingo in a research report on Wednesday, June 25th. They issued a "buy" rating and a $575.00 price target on the stock. DA Davidson cut their price objective on Duolingo from $600.00 to $500.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Finally, Needham & Company LLC raised their target price on Duolingo from $400.00 to $460.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $435.87.

Duolingo Price Performance

DUOL traded up $3.14 during midday trading on Friday, reaching $364.09. 624,096 shares of the company's stock were exchanged, compared to its average volume of 853,654. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $444.90 and a two-hundred day simple moving average of $391.00. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 179.36, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. Duolingo, Inc. has a one year low of $145.05 and a one year high of $544.93.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.52 by $0.20. The business had revenue of $230.74 million during the quarter, compared to the consensus estimate of $223.15 million. Duolingo had a return on equity of 11.70% and a net margin of 11.93%. The business's revenue for the quarter was up 37.6% compared to the same quarter last year. As a group, research analysts predict that Duolingo, Inc. will post 2.03 EPS for the current year.

Insiders Place Their Bets

In other Duolingo news, insider Robert Meese sold 5,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $395.00, for a total value of $1,975,000.00. Following the transaction, the insider directly owned 118,805 shares in the company, valued at $46,927,975. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Severin Hacker sold 10,000 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $360.33, for a total transaction of $3,603,300.00. Following the sale, the insider directly owned 72 shares in the company, valued at $25,943.76. This represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,000 shares of company stock valued at $24,429,700. Company insiders own 15.67% of the company's stock.

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.