Bank of New York Mellon Corp Has $133.99 Million Stock Holdings in Duolingo, Inc. (NASDAQ:DUOL)

Bank of New York Mellon Corp grew its holdings in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 0.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 431,464 shares of the company's stock after buying an additional 1,506 shares during the period. Bank of New York Mellon Corp owned 0.95% of Duolingo worth $133,987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in Duolingo during the first quarter worth about $25,000. Quarry LP lifted its stake in shares of Duolingo by 250.0% during the fourth quarter. Quarry LP now owns 91 shares of the company's stock valued at $30,000 after buying an additional 65 shares during the period. Garde Capital Inc. purchased a new position in shares of Duolingo during the first quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Duolingo by 5,050.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company's stock valued at $33,000 after buying an additional 101 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Duolingo by 323.1% during the first quarter. Versant Capital Management Inc now owns 110 shares of the company's stock valued at $34,000 after buying an additional 84 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Robert Meese sold 5,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $395.00, for a total value of $1,975,000.00. Following the completion of the sale, the insider directly owned 118,805 shares in the company, valued at approximately $46,927,975. The trade was a 4.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Severin Hacker sold 10,000 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $392.89, for a total transaction of $3,928,900.00. Following the completion of the sale, the insider owned 72 shares of the company's stock, valued at $28,288.08. The trade was a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,000 shares of company stock valued at $30,265,780 over the last ninety days. Corporate insiders own 15.67% of the company's stock.

Wall Street Analyst Weigh In

DUOL has been the topic of several recent analyst reports. Argus initiated coverage on shares of Duolingo in a research note on Wednesday, June 25th. They set a "buy" rating and a $575.00 price objective on the stock. Citizens Jmp raised shares of Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 price target for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. raised their price objective on shares of Duolingo from $500.00 to $580.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Needham & Company LLC lifted their price target on shares of Duolingo from $400.00 to $460.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Evercore ISI lifted their price target on shares of Duolingo from $400.00 to $480.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Duolingo currently has an average rating of "Moderate Buy" and an average target price of $441.20.

Duolingo Stock Performance

NASDAQ:DUOL traded down $9.62 during mid-day trading on Friday, hitting $370.82. The stock had a trading volume of 680,253 shares, compared to its average volume of 734,157. The stock has a market capitalization of $16.85 billion, a price-to-earnings ratio of 182.67, a P/E/G ratio of 2.85 and a beta of 0.89. The company has a 50 day simple moving average of $474.93 and a 200-day simple moving average of $388.57. Duolingo, Inc. has a 52 week low of $145.05 and a 52 week high of $544.93. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.06.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.20. Duolingo had a net margin of 11.93% and a return on equity of 11.70%. The company had revenue of $230.74 million for the quarter, compared to the consensus estimate of $223.15 million. Duolingo's revenue for the quarter was up 37.6% compared to the same quarter last year. On average, research analysts expect that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

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.