Avantax Advisory Services Inc. Buys Shares of 693 Duolingo, Inc. (NASDAQ:DUOL)

Key Points

• Avantax Advisory Services Inc. acquired 693 shares of Duolingo, Inc., valued at approximately $215,000, marking a significant new investment in the company.
• Insider Severin Hacker sold 10,000 shares of Duolingo, totaling approximately $3.44 million, leading to a noteworthy decrease in their ownership stake.
• Duolingo's quarterly earnings exceeded expectations with earnings per share of $0.91, outperforming analysts' predictions and showcasing a 41.5% year-over-year revenue growth.

Avantax Advisory Services Inc. bought a new stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 693 shares of the company's stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also made changes to their positions in DUOL. LPL Financial LLC lifted its stake in shares of Duolingo by 73.3% during the fourth quarter. LPL Financial LLC now owns 4,198 shares of the company's stock worth $1,361,000 after buying an additional 1,776 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Duolingo by 52.7% during the fourth quarter. Russell Investments Group Ltd. now owns 30,036 shares of the company's stock worth $9,748,000 after buying an additional 10,366 shares during the period. Legal & General Group Plc lifted its stake in shares of Duolingo by 3.5% during the fourth quarter. Legal & General Group Plc now owns 63,119 shares of the company's stock worth $20,465,000 after buying an additional 2,152 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Duolingo during the fourth quarter worth $6,677,000. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Duolingo by 2.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 16,350 shares of the company's stock worth $5,301,000 after buying an additional 320 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Duolingo news, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $344.41, for a total value of $3,444,100.00. Following the completion of the transaction, the insider owned 72 shares of the company's stock, valued at approximately $24,797.52. The trade was a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 50,000 shares of company stock valued at $20,939,300 over the last three months. 15.67% of the stock is currently owned by insiders.

Duolingo Trading Down 5.2%

Shares of Duolingo stock opened at $370.34 on Friday. Duolingo, Inc. has a 1 year low of $178.87 and a 1 year high of $544.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.81 and a quick ratio of 2.68. The firm has a fifty day moving average price of $410.89 and a 200 day moving average price of $392.33. The stock has a market cap of $16.83 billion, a PE ratio of 152.40, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $240.84 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm's revenue for the quarter was up 41.5% on a year-over-year basis. Equities research analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Duolingo from a "hold" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. lifted their price objective on shares of Duolingo from $500.00 to $515.00 and gave the stock an "overweight" rating in a research note on Thursday. Needham & Company LLC lifted their price objective on shares of Duolingo from $400.00 to $460.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. JMP Securities lowered their price objective on shares of Duolingo from $475.00 to $450.00 and set a "market outperform" rating for the company in a research note on Monday, July 28th. Finally, Citizens Jmp reduced their target price on shares of Duolingo from $475.00 to $450.00 and set a "mkt outperform" rating for the company in a report on Monday, July 28th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Duolingo presently has a consensus rating of "Moderate Buy" and an average price target of $454.20.

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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