Alliancebernstein L.P. Trims Position in Duolingo, Inc. $DUOL

Key Points

• Alliancebernstein L.P. reduced its stake in Duolingo, Inc. by 8.8%, now holding 280,189 shares, worth approximately $87 million.
• Multiple institutional investors, including Invesco Ltd. and T. Rowe Price, have increased their holdings in Duolingo, indicating growing institutional interest in the company.
• Analysts have largely rated Duolingo positively, with twelve analysts giving it a Buy rating and a consensus price target of $430.72.

Alliancebernstein L.P. decreased its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 8.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 280,189 shares of the company's stock after selling 27,005 shares during the period. Alliancebernstein L.P. owned 0.62% of Duolingo worth $87,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. lifted its stake in shares of Duolingo by 24.1% during the first quarter. Invesco Ltd. now owns 1,346,278 shares of the company's stock valued at $418,073,000 after buying an additional 261,212 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Duolingo by 110.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company's stock valued at $307,716,000 after buying an additional 520,069 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Duolingo by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 431,464 shares of the company's stock valued at $133,987,000 after buying an additional 1,506 shares during the period. GAMMA Investing LLC lifted its stake in shares of Duolingo by 41,959.1% during the first quarter. GAMMA Investing LLC now owns 239,737 shares of the company's stock valued at $74,448,000 after buying an additional 239,167 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of Duolingo by 23.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 214,594 shares of the company's stock valued at $66,640,000 after buying an additional 40,812 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on DUOL shares. JPMorgan Chase & Co. upped their price objective on shares of Duolingo from $500.00 to $515.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Barclays upped their price target on shares of Duolingo from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Raymond James Financial reaffirmed a "market perform" rating on shares of Duolingo in a research report on Tuesday, August 26th. JMP Securities dropped their price target on shares of Duolingo from $475.00 to $450.00 and set a "market outperform" rating for the company in a research report on Monday, July 28th. Finally, Argus initiated coverage on shares of Duolingo in a research report on Wednesday, June 25th. They set a "buy" rating and a $575.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.72.

Insider Buying and Selling

In other news, insider Severin Hacker sold 10,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were 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 represents a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Skaruppa sold 10,937 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $317.39, for a total transaction of $3,471,294.43. Following the completion of the sale, the chief financial officer directly owned 43,345 shares of the company's stock, valued at $13,757,269.55. The trade was a 20.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,508 shares of company stock valued at $25,742,721. 15.67% of the stock is owned by corporate insiders.

Duolingo Price Performance

Duolingo stock opened at $271.18 on Friday. Duolingo, Inc. has a 52-week low of $204.00 and a 52-week high of $544.93. The firm has a fifty day moving average of $348.75 and a 200-day moving average of $383.35. The firm has a market capitalization of $12.43 billion, a P/E ratio of 111.60, a PEG ratio of 1.82 and a beta of 0.85. 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 released its quarterly earnings data on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.36. Duolingo had a net margin of 13.24% and a return on equity of 13.32%. The company had revenue of $252.27 million during the quarter, compared to analyst estimates of $240.84 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The business's quarterly revenue was up 41.5% compared to the same quarter last year. As a group, analysts predict that Duolingo, Inc. will post 2.03 EPS for the current year.

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.

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