Congress Asset Management Co. Grows Position in Duolingo, Inc. $DUOL

Key Points

• Congress Asset Management Co. increased its holdings in Duolingo, Inc. (DUOL) by 6.5%, acquiring a total of 52,941 shares valued at approximately $21.7 million.
• Duolingo reported a quarterly earnings per share (EPS) of $0.91, significantly exceeding the consensus estimate of $0.55, along with a 41.5% increase in revenue year-over-year.
• Institutional investors own 91.59% of Duolingo's stock, with recent hedge fund activity including new positions purchased by Regatta Capital Group LLC and Retireful LLC, among others.

Congress Asset Management Co. grew its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,941 shares of the company's stock after acquiring an additional 3,254 shares during the quarter. Congress Asset Management Co. owned 0.12% of Duolingo worth $21,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Regatta Capital Group LLC purchased a new position in Duolingo during the second quarter worth about $253,000. Retireful LLC purchased a new position in shares of Duolingo in the 2nd quarter worth approximately $774,000. Public Employees Retirement System of Ohio grew its holdings in shares of Duolingo by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 11,667 shares of the company's stock valued at $4,784,000 after acquiring an additional 79 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Duolingo in the second quarter valued at approximately $398,000. Finally, GAMMA Investing LLC increased its position in shares of Duolingo by 36.4% during the second quarter. GAMMA Investing LLC now owns 1,053 shares of the company's stock valued at $432,000 after acquiring an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Duolingo Price Performance

Shares of NASDAQ:DUOL opened at $326.39 on Friday. The firm has a market capitalization of $14.96 billion, a PE ratio of 134.32, a P/E/G ratio of 2.09 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 company has a 50-day moving average price of $321.67 and a two-hundred day moving average price of $378.74. Duolingo, Inc. has a twelve month low of $256.63 and a twelve month high of $544.93.

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

Insider Activity

In other news, General Counsel Stephen C. Chen sold 1,515 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $321.36, for a total value of $486,860.40. Following the completion of the transaction, the general counsel directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction on 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 completion of the transaction, the insider owned 72 shares of the company's stock, valued at approximately $20,803.68. This trade represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,508 shares of company stock valued at $26,605,621. 15.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Robert W. Baird started coverage on Duolingo in a research report on Friday, September 5th. They issued a "neutral" rating and a $280.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Duolingo in a research report on Monday, September 8th. They set an "underweight" rating and a $239.00 price target for the company. KeyCorp upgraded shares of Duolingo from a "sector weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a report on Monday, August 18th. DA Davidson cut shares of Duolingo from a "buy" rating to a "neutral" rating and dropped their target price for the company from $500.00 to $300.00 in a research note on Thursday, September 4th. Finally, Zacks Research raised shares of Duolingo from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $419.32.

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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