Duolingo, Inc. (NASDAQ:DUOL) Shares Sold by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its holdings in Duolingo by 34.3%, now owning 7,114 shares worth approximately $2.21 million.
• Insider Severin Hacker sold 10,000 shares of Duolingo stock for over $3.6 million, significantly decreasing his ownership.
• Duolingo's earnings report showed a 37.6% year-over-year revenue increase, with earnings per share of $0.72 surpassing expectations.

Alberta Investment Management Corp lessened its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 34.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,114 shares of the company's stock after selling 3,718 shares during the period. Alberta Investment Management Corp's holdings in Duolingo were worth $2,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in Duolingo during the 1st quarter worth approximately $25,000. Quarry LP grew its stake in Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company's stock worth $30,000 after buying an additional 65 shares during the last quarter. Garde Capital Inc. purchased a new position in Duolingo during the 1st quarter worth approximately $31,000. Whittier Trust Co. purchased a new position in Duolingo during the 1st quarter worth approximately $33,000. Finally, Versant Capital Management Inc grew its stake in Duolingo by 323.1% during the 1st quarter. Versant Capital Management Inc now owns 110 shares of the company's stock worth $34,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Duolingo Stock Down 2.2%

Duolingo stock opened at $338.99 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.68 and a quick ratio of 2.68. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $544.93. The company has a market cap of $15.41 billion, a PE ratio of 166.99, a price-to-earnings-growth ratio of 2.60 and a beta of 0.87. The stock's 50 day moving average price is $426.96 and its 200 day moving average price is $392.12.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.20. Duolingo had a return on equity of 11.70% and a net margin of 11.93%. The firm had revenue of $230.74 million for the quarter, compared to the consensus estimate of $223.15 million. Duolingo's revenue for the quarter was up 37.6% on a year-over-year basis. On average, sell-side analysts predict that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at Duolingo

In related news, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $360.33, for a total value of $3,603,300.00. Following the sale, the insider directly owned 72 shares in the company, valued at $25,943.76. The trade was a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 40,000 shares of company stock valued at $17,495,200 in the last quarter. 18.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler set a $375.00 price target on Duolingo in a research note on Friday, May 2nd. The Goldman Sachs Group raised their price target on Duolingo from $340.00 to $403.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Barclays lifted their target price on Duolingo from $330.00 to $375.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Citizens Jmp lowered their target price on Duolingo from $475.00 to $450.00 and set a "mkt outperform" rating on the stock in a research note on Monday, July 28th. Finally, Argus initiated coverage on Duolingo in a research note on Wednesday, June 25th. They issued a "buy" rating and a $575.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Duolingo currently has a consensus rating of "Moderate Buy" and a consensus target price of $450.87.

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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