Duolingo, Inc. $DUOL Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Duolingo, Inc. by 2.4%, selling 1,031 shares and holding a total of 42,272 shares valued at approximately $13.1 million.
• In the first quarter, several other institutional investors increased their holdings in Duolingo, with Northwestern Mutual Wealth Management Co. boosting its stake by 20.5%.
• Duolingo posted better-than-expected earnings, reporting $0.91 EPS and $252.27 million in revenue for the last quarter, surpassing analyst estimates.

Corebridge Financial Inc. cut its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,272 shares of the company's stock after selling 1,031 shares during the period. Corebridge Financial Inc. owned approximately 0.09% of Duolingo worth $13,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DUOL. Dimensional Fund Advisors LP boosted its stake in Duolingo by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 101,609 shares of the company's stock valued at $32,946,000 after buying an additional 5,910 shares during the last quarter. Quarry LP boosted its stake in 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 last quarter. Northern Trust Corp boosted its stake in Duolingo by 18.6% during the fourth quarter. Northern Trust Corp now owns 296,457 shares of the company's stock valued at $96,120,000 after buying an additional 46,442 shares during the last quarter. Lido Advisors LLC boosted its stake in Duolingo by 0.3% during the fourth quarter. Lido Advisors LLC now owns 10,104 shares of the company's stock valued at $3,276,000 after buying an additional 30 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Duolingo by 1.0% during the fourth quarter. AQR Capital Management LLC now owns 90,103 shares of the company's stock valued at $29,117,000 after purchasing an additional 924 shares during the period. 91.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

DUOL has been the topic of a number of recent research reports. KeyCorp upgraded Duolingo from a "sector weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a research report on Monday, August 18th. Citizens Jmp decreased their price objective on Duolingo from $475.00 to $450.00 and set a "mkt outperform" rating on the stock in a research report on Monday, July 28th. The Goldman Sachs Group upped their price objective on Duolingo from $340.00 to $403.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Wall Street Zen downgraded Duolingo from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Citigroup initiated coverage on Duolingo in a research report on Monday, August 18th. They set a "buy" rating and a $400.00 price objective on the stock. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $451.35.

Duolingo Stock Down 7.7%

NASDAQ DUOL traded down $24.92 on Friday, reaching $297.86. 2,277,333 shares of the stock traded hands, compared to its average volume of 2,220,966. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.81 and a current ratio of 2.81. The company has a fifty day moving average price of $362.04 and a 200-day moving average price of $388.32. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 122.58, a PEG ratio of 2.15 and a beta of 0.87. Duolingo, Inc. has a 12 month low of $202.44 and a 12 month high of $544.93.

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

Insider Activity at Duolingo

In other news, insider Robert Meese sold 1,444 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $329.03, for a total value of $475,119.32. Following the completion of the transaction, the insider owned 120,080 shares of the company's stock, valued at $39,509,922.40. The trade was a 1.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $344.56, for a total value of $3,445,600.00. Following the completion of the transaction, the insider directly owned 72 shares of the company's stock, valued at approximately $24,808.32. This trade represents a 99.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,508 shares of company stock worth $30,993,721 in the last quarter. 15.67% of the stock is owned by insiders.

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.