Jump Financial LLC Buys 88,918 Shares of Duolingo, Inc. $DUOL

Key Points

• Jump Financial LLC significantly increased its position in Duolingo, acquiring 88,918 additional shares and boosting its ownership by 563.7% during the first quarter, bringing its total to 104,693 shares valued at approximately $32.5 million.
• Institutional investors collectively hold 91.59% of Duolingo's stock, with notable increases in positions from firms like T. Rowe Price and GAMMA Investing LLC, which saw increases of 110.5% and 41,959.1% respectively during the same quarter.
• Duolingo reported a strong performance in its last quarterly earnings, with earnings per share of $0.91, surpassing expectations, and a revenue increase of 41.5% year-over-year, raising its total revenue to $252.27 million.

Jump Financial LLC grew its holdings in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 563.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,693 shares of the company's stock after acquiring an additional 88,918 shares during the period. Jump Financial LLC owned 0.23% of Duolingo worth $32,511,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. raised its position in Duolingo by 24.1% in the first quarter. Invesco Ltd. now owns 1,346,278 shares of the company's stock worth $418,073,000 after acquiring an additional 261,212 shares during the period. Price T Rowe Associates Inc. MD raised its position in Duolingo by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company's stock worth $434,398,000 after acquiring an additional 10,638 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Duolingo by 110.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company's stock worth $307,716,000 after acquiring an additional 520,069 shares during the period. Bank of New York Mellon Corp raised its position in Duolingo by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 431,464 shares of the company's stock worth $133,987,000 after acquiring an additional 1,506 shares during the period. Finally, Northern Trust Corp raised its position in Duolingo by 18.6% in the fourth quarter. Northern Trust Corp now owns 296,457 shares of the company's stock worth $96,120,000 after acquiring an additional 46,442 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Insider Transactions at Duolingo

In other news, insider Robert Meese sold 1,444 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $329.03, for a total value of $475,119.32. Following the completion of the sale, the insider owned 120,080 shares in the company, valued at approximately $39,509,922.40. This trade represents a 1.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Natalie Glance sold 2,533 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $329.03, for a total transaction of $833,432.99. Following the completion of the sale, the insider owned 122,112 shares of the company's stock, valued at $40,178,511.36. This trade represents a 2.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,056 shares of company stock worth $27,035,566. 18.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Duolingo in a research note on Monday, August 18th. They issued a "buy" rating and a $400.00 price objective for the company. Wall Street Zen cut shares of Duolingo from a "buy" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Duolingo from $500.00 to $515.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. The Goldman Sachs Group raised 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, KeyCorp raised shares of Duolingo from a "sector weight" rating to an "overweight" rating and set a $460.00 target price for the company in a research note on Monday, August 18th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Duolingo currently has a consensus rating of "Moderate Buy" and a consensus target price of $451.35.

Duolingo Price Performance

DUOL stock traded down $10.43 during trading on Monday, hitting $321.44. 1,424,406 shares of the company's stock traded hands, compared to its average volume of 2,182,066. Duolingo, Inc. has a 52 week low of $202.38 and a 52 week high of $544.93. 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 business has a fifty day simple moving average of $375.06 and a 200 day simple moving average of $390.47. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of 132.28, a P/E/G ratio of 2.21 and a beta of 0.87.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.36. The firm had revenue of $252.27 million during 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 business's revenue was up 41.5% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. As a group, research analysts expect that Duolingo, Inc. will post 2.03 EPS 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.