Duolingo, Inc. (NASDAQ:DUOL) is Steadview Capital Management LLC's 6th Largest Position

Steadview Capital Management LLC lifted its stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 68.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,850 shares of the company's stock after purchasing an additional 51,850 shares during the quarter. Duolingo accounts for 8.6% of Steadview Capital Management LLC's portfolio, making the stock its 6th largest position. Steadview Capital Management LLC owned about 0.28% of Duolingo worth $39,703,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp bought a new position in Duolingo during the fourth quarter valued at approximately $60,000. Victory Capital Management Inc. raised its position in Duolingo by 10.6% during the fourth quarter. Victory Capital Management Inc. now owns 7,754 shares of the company's stock valued at $2,514,000 after acquiring an additional 743 shares in the last quarter. Assetmark Inc. raised its position in Duolingo by 10.8% during the fourth quarter. Assetmark Inc. now owns 2,276 shares of the company's stock valued at $738,000 after acquiring an additional 222 shares in the last quarter. Atria Investments Inc raised its position in Duolingo by 3.9% during the fourth quarter. Atria Investments Inc now owns 1,029 shares of the company's stock valued at $334,000 after acquiring an additional 39 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Duolingo by 78.4% in the fourth quarter. M&T Bank Corp now owns 1,686 shares of the company's stock valued at $547,000 after purchasing an additional 741 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Duolingo Stock Up 0.3%

Shares of NASDAQ DUOL opened at $390.75 on Thursday. The firm's 50-day simple moving average is $477.63 and its 200 day simple moving average is $387.73. The company has a market cap of $17.76 billion, a price-to-earnings ratio of 192.49, a price-to-earnings-growth ratio of 2.98 and a beta of 0.89. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.06. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $544.93.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.20. The firm had revenue of $230.74 million during the quarter, compared to analysts' expectations of $223.15 million. Duolingo had a return on equity of 11.70% and a net margin of 11.93%. Duolingo's quarterly revenue was up 37.6% compared to the same quarter last year. On average, research analysts expect that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DUOL. The Goldman Sachs Group lifted their price target on shares of Duolingo from $340.00 to $403.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Evercore ISI lifted their price target on shares of Duolingo from $400.00 to $480.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. DA Davidson decreased their price target on shares of Duolingo from $600.00 to $500.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Scotiabank lifted their price target on shares of Duolingo from $405.00 to $470.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 2nd. Finally, UBS Group restated an "overweight" rating on shares of Duolingo in a research note on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $441.20.

Insiders Place Their Bets

In other Duolingo news, insider Robert Meese sold 5,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $395.00, for a total transaction of $1,975,000.00. Following the completion of the sale, the insider directly owned 118,805 shares of the company's stock, valued at approximately $46,927,975. The trade was a 4.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $392.89, for a total value of $3,928,900.00. Following the sale, the insider directly owned 72 shares of the company's stock, valued at $28,288.08. This represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,000 shares of company stock valued at $30,265,780. 15.67% of the stock is currently owned by insiders.

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.

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