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. cut its holdings in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 42.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,923 shares of the company's stock after selling 112,857 shares during the period. AGF Management Ltd. owned 0.34% of Duolingo worth $47,489,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in shares of Duolingo during the first quarter worth $25,000. Quarry LP increased its holdings in Duolingo by 250.0% in 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. Garde Capital Inc. purchased a new position in Duolingo in the first quarter valued at $31,000. Whittier Trust Co. purchased a new position in Duolingo in the first quarter valued at $33,000. Finally, Versant Capital Management Inc increased its holdings in Duolingo by 323.1% in the first quarter. Versant Capital Management Inc now owns 110 shares of the company's stock valued at $34,000 after buying an additional 84 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DUOL has been the topic of several recent analyst reports. Evercore ISI increased their target price on Duolingo from $400.00 to $480.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Barclays increased their target price on Duolingo from $375.00 to $390.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Needham & Company LLC increased their target price on Duolingo from $400.00 to $460.00 and gave the company a "buy" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their price objective on Duolingo from $500.00 to $515.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised Duolingo from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $454.20.

Duolingo Stock Performance

NASDAQ DUOL traded up $1.95 during midday trading on Thursday, hitting $329.88. The company had a trading volume of 1,802,704 shares, compared to its average volume of 1,015,940. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 135.75, a P/E/G ratio of 2.15 and a beta of 0.87. The firm has a fifty day simple moving average of $399.54 and a two-hundred day simple moving average of $391.88. Duolingo, Inc. has a fifty-two week low of $195.94 and a fifty-two week high of $544.93.

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

Insider Transactions at Duolingo

In related news, insider Severin Hacker sold 10,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 72 shares in the company, valued at approximately $24,797.52. The trade was a 99.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 50,000 shares of company stock worth $20,939,300 in the last ninety days. 15.67% of the stock is currently 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.