Audent Global Asset Management LLC Makes New Investment in Duolingo, Inc. $DUOL

Key Points

• Audent Global Asset Management opened a new position in Duolingo during the first quarter, buying 21,700 shares worth about $2.14 million. The stake now represents 2.2% of the fund’s portfolio.
• Duolingo reported better-than-expected quarterly results, with EPS of $0.89 versus $0.79 expected and revenue of $291.97 million versus $288.60 million projected. Revenue rose 26.5% year over year.
• The stock was trading up about 3.8% at $133.85, while analysts overall remain cautious: the consensus rating is Hold with an average price target of $167.17.

Audent Global Asset Management LLC acquired a new stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,700 shares of the company's stock, valued at approximately $2,139,000. Duolingo makes up 2.2% of Audent Global Asset Management LLC's portfolio, making the stock its 18th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in DUOL. Baillie Gifford & Co. lifted its stake in Duolingo by 71.9% in the 4th quarter. Baillie Gifford & Co. now owns 4,861,445 shares of the company's stock worth $853,184,000 after purchasing an additional 2,033,611 shares in the last quarter. Lingotto Investment Management LLP raised its position in Duolingo by 34.3% in the 4th quarter. Lingotto Investment Management LLP now owns 33,563 shares of the company's stock worth $5,890,000 after purchasing an additional 8,563 shares during the period. Dream Peak Capital Ltd bought a new stake in shares of Duolingo in the 4th quarter valued at about $18,345,000. Landscape Capital Management L.L.C. bought a new position in shares of Duolingo in the fourth quarter worth approximately $3,752,000. Finally, Peregrine Capital Management LLC grew its holdings in Duolingo by 50.3% in the 4th quarter. Peregrine Capital Management LLC now owns 129,515 shares of the company's stock worth $22,730,000 after acquiring an additional 43,352 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Duolingo Trading Up 3.8%

DUOL stock opened at $133.85 on Friday. Duolingo, Inc. has a twelve month low of $87.89 and a twelve month high of $468.00. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.00 and a beta of 0.88. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.07. The firm's fifty day simple moving average is $118.95 and its two-hundred day simple moving average is $119.29.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.10. The firm had revenue of $291.97 million during the quarter, compared to analysts' expectations of $288.60 million. Duolingo had a net margin of 38.44% and a return on equity of 14.07%. The firm's revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. As a group, analysts anticipate that Duolingo, Inc. will post 2.76 earnings per share for the current year.

Insider Transactions at Duolingo

In other Duolingo news, insider Natalie Glance sold 3,360 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $113.59, for a total transaction of $381,662.40. Following the transaction, the insider owned 173,401 shares of the company's stock, valued at approximately $19,696,619.59. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Meese sold 1,420 shares of the company's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $112.16, for a total value of $159,267.20. Following the sale, the insider owned 170,745 shares of the company's stock, valued at approximately $19,150,759.20. This represents a 0.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 9,506 shares of company stock valued at $1,073,864. 16.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DUOL shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price target on shares of Duolingo in a research note on Tuesday, May 5th. Wedbush started coverage on shares of Duolingo in a report on Thursday. They issued a "neutral" rating and a $139.00 target price for the company. Wells Fargo & Company lifted their price objective on Duolingo from $81.00 to $82.00 and gave the stock an "underweight" rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on Duolingo from $94.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Evercore set a $97.00 target price on Duolingo in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Duolingo presently has an average rating of "Hold" and an average price target of $167.17.

Duolingo Company Profile

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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