Caisse DE Depot ET Placement DU Quebec Buys 9,395 Shares of Duolingo, Inc. $DUOL

Key Points

• Caisse DE Depot ET Placement DU Quebec has increased its stake in Duolingo, Inc. by 71.4%, now owning 22,561 shares valued at approximately $7 million.
• Several hedge funds have also altered their positions in Duolingo, with Jump Financial LLC significantly increasing its stake by 563.7% during the same quarter.
• The stock has received multiple "buy" ratings from analysts, with a consensus price target of $451.35 and Duolingo reporting a 41.5% year-over-year revenue increase.

Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 71.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,561 shares of the company's stock after purchasing an additional 9,395 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Duolingo were worth $7,006,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new stake in shares of Duolingo during the first quarter worth approximately $3,772,000. Encompass More Asset Management acquired a new stake in shares of Duolingo during the first quarter worth approximately $762,000. Jump Financial LLC boosted its holdings in shares of Duolingo by 563.7% during the first quarter. Jump Financial LLC now owns 104,693 shares of the company's stock worth $32,511,000 after purchasing an additional 88,918 shares during the period. Quantitative Investment Management LLC acquired a new stake in shares of Duolingo during the first quarter worth approximately $301,000. Finally, TD Asset Management Inc boosted its holdings in shares of Duolingo by 12.7% during the first quarter. TD Asset Management Inc now owns 107,520 shares of the company's stock worth $33,389,000 after purchasing an additional 12,138 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Stephen C. Chen sold 1,515 shares of Duolingo stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $321.36, for a total value of $486,860.40. Following the transaction, the general counsel owned 32,638 shares of the company's stock, valued at $10,488,547.68. This trade represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Skaruppa sold 10,937 shares of Duolingo stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $317.39, for a total transaction of $3,471,294.43. Following the completion of the transaction, the chief financial officer directly owned 43,345 shares in the company, valued at approximately $13,757,269.55. This represents a 20.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,508 shares of company stock worth $30,993,721. 18.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DUOL. Raymond James Financial restated a "market perform" rating on shares of Duolingo in a report on Tuesday, August 26th. Morgan Stanley lifted their target price on shares of Duolingo from $480.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Citigroup began coverage on shares of Duolingo in a research note on Monday, August 18th. They issued a "buy" rating and a $400.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of Duolingo from $340.00 to $403.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Wall Street Zen cut shares of Duolingo from a "buy" rating to a "hold" rating in a research note on Saturday. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $451.35.

Duolingo Stock Performance

Shares of NASDAQ:DUOL traded down $7.04 during trading on Tuesday, reaching $290.82. The stock had a trading volume of 937,330 shares, compared to its average volume of 1,059,686. Duolingo, Inc. has a 52 week low of $202.44 and a 52 week high of $544.93. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of 119.40, a P/E/G ratio of 1.99 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. The stock has a fifty day simple moving average of $359.03 and a two-hundred day simple moving average of $387.02.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 EPS 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 for the quarter, compared to analyst estimates of $240.84 million. During the same quarter last year, the firm posted $0.51 earnings per share. The company's quarterly revenue was up 41.5% compared to the same quarter last year. As a group, analysts anticipate that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal 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.