Steadview Capital Management LLC Boosts Stock Holdings in Duolingo, Inc. (NASDAQ:DUOL)

Steadview Capital Management LLC boosted its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 68.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 127,850 shares of the company's stock after purchasing an additional 51,850 shares during the period. Duolingo comprises about 8.6% of Steadview Capital Management LLC's investment portfolio, making the stock its 6th biggest position. Steadview Capital Management LLC owned 0.28% of Duolingo worth $39,703,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Duolingo by 39.9% in the fourth quarter. FMR LLC now owns 3,726,561 shares of the company's stock worth $1,208,263,000 after acquiring an additional 1,063,327 shares during the last quarter. Norges Bank bought a new position in shares of Duolingo in the fourth quarter worth about $152,296,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Duolingo by 548.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company's stock worth $152,659,000 after acquiring an additional 398,259 shares during the last quarter. Invesco Ltd. raised its stake in shares of Duolingo by 53.5% in the fourth quarter. Invesco Ltd. now owns 1,085,066 shares of the company's stock worth $351,811,000 after acquiring an additional 378,225 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Duolingo by 41,959.1% in the first quarter. GAMMA Investing LLC now owns 239,737 shares of the company's stock worth $74,448,000 after acquiring an additional 239,167 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Insider Transactions at Duolingo

In other news, insider Robert Meese sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $395.00, for a total value of $1,975,000.00. Following the completion of the transaction, the insider directly owned 118,805 shares in the company, valued at approximately $46,927,975. The trade was a 4.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ahn Luis Von sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $327.41, for a total transaction of $2,619,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,000 shares of company stock worth $30,265,780. 15.67% of the stock is owned by insiders.

Duolingo Stock Down 2.5%

DUOL traded down $9.62 during trading hours on Friday, hitting $370.82. 680,253 shares of the company's stock were exchanged, compared to its average volume of 734,157. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $544.93. The stock's 50-day moving average is $474.93 and its two-hundred day moving average is $388.90. The stock has a market cap of $16.86 billion, a price-to-earnings ratio of 182.67, a PEG ratio of 2.85 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 (NASDAQ:DUOL - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.52 by $0.20. Duolingo had a net margin of 11.93% and a return on equity of 11.70%. The business had revenue of $230.74 million during the quarter, compared to analysts' expectations of $223.15 million. The business's revenue was up 37.6% compared to the same quarter last year. Sell-side analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Duolingo from $515.00 to $480.00 and set an "overweight" rating for the company in a research note on Tuesday, July 8th. Citizens Jmp upgraded shares of Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 price objective for the company in a report on Tuesday, March 18th. Argus assumed coverage on shares of Duolingo in a report on Wednesday, June 25th. They set a "buy" rating and a $575.00 price objective for the company. Piper Sandler set a $375.00 price objective on shares of Duolingo in a report on Friday, May 2nd. Finally, Scotiabank upped their price target on shares of Duolingo from $405.00 to $470.00 and gave the company a "sector outperform" rating in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $441.20.

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.