Abacus FCF Advisors LLC Sells 8,312 Shares of Duolingo, Inc. $DUOL

Key Points

• Abacus FCF Advisors LLC sold 8,312 shares of Duolingo, Inc., reducing its stake by 52.6% during the second quarter, leaving it with 7,480 shares valued at approximately $3.07 million.
• Duolingo's quarterly earnings surpassed analysts' expectations, with an EPS of $0.91 compared to estimates of $0.55, and year-over-year revenue growth of 41.5%.
• As of now, institutional investors own 91.59% of Duolingo stock, indicating a strong interest from major financial institutions despite varying ratings from analysts.

Abacus FCF Advisors LLC lowered its stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 52.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,480 shares of the company's stock after selling 8,312 shares during the quarter. Abacus FCF Advisors LLC's holdings in Duolingo were worth $3,067,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Three Seasons Wealth LLC bought a new stake in Duolingo in the 2nd quarter worth about $210,000. Redhawk Wealth Advisors Inc. increased its position in shares of Duolingo by 11.1% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 7,420 shares of the company's stock valued at $3,042,000 after purchasing an additional 742 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new position in Duolingo during the 2nd quarter valued at $251,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Duolingo by 37.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,340 shares of the company's stock worth $2,876,000 after buying an additional 1,986 shares during the period. Finally, Wedmont Private Capital raised its position in shares of Duolingo by 5.7% in the 2nd quarter. Wedmont Private Capital now owns 822 shares of the company's stock worth $321,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Duolingo Stock Performance

Shares of NASDAQ:DUOL traded down $8.44 during trading on Tuesday, hitting $300.91. 849,996 shares of the company traded hands, compared to its average volume of 1,147,602. The stock has a market capitalization of $13.79 billion, a price-to-earnings ratio of 123.85, a PEG ratio of 1.94 and a beta of 0.85. The business's fifty day moving average is $326.30 and its 200-day moving average is $379.22. Duolingo, Inc. has a one year low of $256.63 and a one year high of $544.93. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.36. The business had revenue of $252.27 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. As a group, equities analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DUOL shares. Wells Fargo & Company started coverage on Duolingo in a report on Monday, September 8th. They issued an "underweight" rating and a $239.00 price objective on the stock. Barclays upped their price objective on Duolingo from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Robert W. Baird assumed coverage on Duolingo in a research report on Friday, September 5th. They set a "neutral" rating and a $280.00 price objective for the company. Baird R W raised Duolingo to a "hold" rating in a report on Friday, September 5th. Finally, Wall Street Zen downgraded Duolingo from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $419.32.

Insider Buying and Selling at Duolingo

In other news, insider Robert Meese sold 1,444 shares of Duolingo stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $329.03, for a total value of $475,119.32. Following the transaction, the insider directly owned 120,080 shares in the company, valued at approximately $39,509,922.40. The trade was a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Skaruppa sold 10,937 shares of Duolingo stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $317.39, for a total value of $3,471,294.43. Following the completion of the transaction, the chief financial officer owned 43,345 shares in the company, valued at $13,757,269.55. The trade was a 20.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,508 shares of company stock valued at $26,605,621 in the last quarter. Corporate insiders own 18.30% of the company's stock.

About Duolingo

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.