Panagora Asset Management Inc. Invests $10.35 Million in Duolingo, Inc. $DUOL

Key Points

• Panagora Asset Management Inc. purchased 33,318 shares of Duolingo, Inc. for approximately $10.3 million, marking a new position for the firm in the company's stock.
• The company's stock experienced a 7.7% drop recently, with current trading activity reflecting a market capitalization of $13.65 billion and a P/E ratio of 122.58.
• Duolingo reported a strong quarterly earnings performance, with earnings per share of $0.91, exceeding analysts' estimates, and a year-over-year revenue increase of 41.5%.

Panagora Asset Management Inc. purchased a new position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,318 shares of the company's stock, valued at approximately $10,347,000. Panagora Asset Management Inc. owned 0.07% of Duolingo as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Stony Point Capital LLC purchased a new stake in shares of Duolingo in the first quarter worth approximately $5,559,000. Vident Advisory LLC raised its holdings in shares of Duolingo by 4.9% in the first quarter. Vident Advisory LLC now owns 2,344 shares of the company's stock worth $728,000 after buying an additional 110 shares during the period. State of Wyoming purchased a new stake in shares of Duolingo in the first quarter worth approximately $42,000. Landscape Capital Management L.L.C. raised its holdings in shares of Duolingo by 54.5% in the first quarter. Landscape Capital Management L.L.C. now owns 13,824 shares of the company's stock worth $4,293,000 after buying an additional 4,879 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Duolingo by 37.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 5,763 shares of the company's stock worth $1,790,000 after buying an additional 1,563 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Duolingo Stock Down 3.5%

NASDAQ DUOL traded down $9.82 during midday trading on Thursday, hitting $272.70. 2,468,798 shares of the company traded hands, compared to its average volume of 1,075,335. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.81 and a quick ratio of 2.81. The company has a market cap of $12.50 billion, a PE ratio of 112.22, a price-to-earnings-growth ratio of 1.99 and a beta of 0.85. The company's 50-day simple moving average is $354.07 and its 200-day simple moving average is $385.63. Duolingo, Inc. has a 52 week low of $204.00 and a 52 week high of $544.93.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.36. The business had revenue of $252.27 million for the quarter, compared to analysts' expectations of $240.84 million. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.The business's revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. As a group, equities research analysts forecast that Duolingo, Inc. will post 2.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Duolingo from $480.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Raymond James Financial reissued a "market perform" rating on shares of Duolingo in a research note on Tuesday, August 26th. KeyCorp raised Duolingo from a "sector weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a research note on Monday, August 18th. Barclays increased their price objective on Duolingo from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen cut Duolingo from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Duolingo presently has an average rating of "Moderate Buy" and an average target price of $439.59.

Insider Buying and Selling at Duolingo

In other news, insider Severin Hacker sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $344.56, for a total value of $3,445,600.00. Following the completion of the sale, the insider owned 72 shares of the company's stock, valued at $24,808.32. This trade represents a 99.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stephen C. Chen sold 1,515 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $321.36, for a total value of $486,860.40. Following the completion of the sale, the general counsel directly owned 32,638 shares of the company's stock, valued at $10,488,547.68. The trade was a 4.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,508 shares of company stock worth $25,742,721. 18.30% of the stock is currently owned by company insiders.

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.