AGF Management Ltd. Sells 112,857 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Key Points

• AGF Management Ltd. reduced its stake in Duolingo, Inc. by 42.5%, ending the quarter with 152,923 shares valued at approximately $47.5 million.
• T. Rowe Price Investment Management significantly increased its holdings in Duolingo by 548.8%, acquiring an additional 398,259 shares.
• Duolingo reported earnings of $0.91 per share, surpassing analysts' expectations of $0.55, with a revenue increase of 41.5% year-over-year.

AGF Management Ltd. decreased its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 42.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 152,923 shares of the company's stock after selling 112,857 shares during the quarter. AGF Management Ltd. owned approximately 0.34% of Duolingo worth $47,489,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DUOL. T. Rowe Price Investment Management Inc. increased its holdings in shares of Duolingo by 548.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company's stock worth $152,659,000 after buying an additional 398,259 shares during the last quarter. Invesco Ltd. grew its holdings in Duolingo by 24.1% during the 1st quarter. Invesco Ltd. now owns 1,346,278 shares of the company's stock valued at $418,073,000 after purchasing an additional 261,212 shares during the last quarter. GAMMA Investing LLC grew its holdings in Duolingo by 41,959.1% during the 1st quarter. GAMMA Investing LLC now owns 239,737 shares of the company's stock valued at $74,448,000 after purchasing an additional 239,167 shares during the last quarter. Nuveen LLC bought a new position in Duolingo in the 1st quarter worth about $42,950,000. Finally, Voloridge Investment Management LLC boosted its stake in shares of Duolingo by 270.3% during the fourth quarter. Voloridge Investment Management LLC now owns 146,674 shares of the company's stock valued at $47,556,000 after purchasing an additional 107,063 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Insiders Place Their Bets

In related news, insider Severin Hacker sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $344.41, for a total transaction of $3,444,100.00. Following the transaction, the insider directly owned 72 shares of the company's stock, valued at $24,797.52. This trade represents a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 50,000 shares of company stock worth $20,939,300. 15.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DUOL has been the subject of a number of research analyst reports. DA Davidson decreased their price target on shares of Duolingo from $600.00 to $500.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Piper Sandler set a $375.00 target price on shares of Duolingo in a research note on Friday, May 2nd. Morgan Stanley boosted their price objective on shares of Duolingo from $480.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Citizens Jmp lowered their target price on Duolingo from $475.00 to $450.00 and set a "mkt outperform" rating for the company in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Duolingo from $500.00 to $515.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Duolingo currently has an average rating of "Moderate Buy" and an average target price of $454.20.

Duolingo Trading Down 0.2%

Shares of Duolingo stock traded down $0.72 on Friday, reaching $329.16. 628,800 shares of the company's stock were exchanged, compared to its average volume of 1,013,230. The firm's 50-day moving average is $395.68 and its two-hundred day moving average is $391.90. The company has a market capitalization of $14.96 billion, a P/E ratio of 135.20, a price-to-earnings-growth ratio of 2.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.81 and a current ratio of 2.81. Duolingo, Inc. has a 52 week low of $198.33 and a 52 week high of $544.93.

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

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.