Bayforest Capital Ltd Buys New Position in Duolingo, Inc. $DUOL

Key Points

• Bayforest Capital Ltd invested approximately $325,000 in Duolingo by purchasing 792 shares during the second quarter.
• Duolingo reported earnings of $0.91 per share, exceeding analysts' expectations by $0.36, with quarterly revenue increasing by 41.5% year-over-year.
• Recent analyst ratings show a consensus of 12 Buy, 11 Hold, and 1 Sell, with an average price target of $416.68 for Duolingo stock.

Bayforest Capital Ltd purchased a new stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 792 shares of the company's stock, valued at approximately $325,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kiker Wealth Management LLC acquired a new position in shares of Duolingo in the 2nd quarter valued at $31,000. Rise Advisors LLC boosted its position in shares of Duolingo by 43.6% in the 1st quarter. Rise Advisors LLC now owns 79 shares of the company's stock valued at $25,000 after purchasing an additional 24 shares during the period. Summit Securities Group LLC acquired a new position in shares of Duolingo in the 1st quarter valued at $28,000. Brooklyn Investment Group boosted its position in shares of Duolingo by 4,750.0% in the 1st quarter. Brooklyn Investment Group now owns 97 shares of the company's stock valued at $30,000 after purchasing an additional 95 shares during the period. Finally, Garde Capital Inc. acquired a new position in shares of Duolingo in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Duolingo Stock Up 2.5%

DUOL opened at $341.08 on Thursday. Duolingo, Inc. has a fifty-two week low of $256.63 and a fifty-two week high of $544.93. The business has a 50-day moving average of $315.85 and a 200-day moving average of $380.44. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.81 and a quick ratio of 2.81. The company has a market capitalization of $15.63 billion, a PE ratio of 140.36, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.36. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.The company had revenue of $252.27 million during the quarter, compared to the consensus estimate of $240.84 million. During the same period last year, the business earned $0.51 EPS. The business's quarterly revenue was up 41.5% on a year-over-year basis. Equities research analysts forecast that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on DUOL. Citizens Jmp decreased their price target on Duolingo from $475.00 to $450.00 and set a "mkt outperform" rating for the company in a research report on Monday, July 28th. Wells Fargo & Company began coverage on Duolingo in a research note on Monday, September 8th. They issued an "underweight" rating and a $239.00 price objective for the company. JMP Securities reduced their price objective on Duolingo from $475.00 to $450.00 and set a "market outperform" rating for the company in a research note on Monday, July 28th. Barclays increased their price objective on Duolingo from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Finally, DA Davidson downgraded Duolingo from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $500.00 to $300.00 in a research note on Thursday, September 4th. Twelve investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $416.68.

Insider Activity

In other news, insider Natalie Glance sold 3,283 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $312.30, for a total transaction of $1,025,280.90. Following the transaction, the insider owned 116,171 shares of the company's stock, valued at approximately $36,280,203.30. This represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Severin Hacker sold 10,000 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $288.94, for a total value of $2,889,400.00. Following the transaction, the insider directly owned 72 shares in the company, valued at approximately $20,803.68. This represents a 99.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,791 shares of company stock valued at $26,918,301. Insiders own 15.67% of the company's stock.

Duolingo 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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