Duolingo, Inc. (NASDAQ:DUOL) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 34.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,002 shares of the company's stock after selling 1,067 shares during the period. Oppenheimer & Co. Inc.'s holdings in Duolingo were worth $622,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DUOL. Contravisory Investment Management Inc. purchased a new position in Duolingo in the 1st quarter valued at approximately $25,000. Quarry LP boosted its position in Duolingo by 250.0% in the 4th quarter. Quarry LP now owns 91 shares of the company's stock valued at $30,000 after buying an additional 65 shares during the period. Garde Capital Inc. purchased a new position in Duolingo in the 1st quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd boosted its position in Duolingo by 5,050.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company's stock valued at $33,000 after buying an additional 101 shares during the period. Finally, Versant Capital Management Inc boosted its position in Duolingo by 323.1% in the 1st 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 period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Duolingo Stock Down 0.4%

NASDAQ:DUOL traded down $1.61 during midday trading on Friday, hitting $395.39. 552,232 shares of the company were exchanged, compared to its average volume of 724,368. The company has a fifty day simple moving average of $477.01 and a 200 day simple moving average of $386.30. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $544.93. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $17.97 billion, a PE ratio of 194.78, a price-to-earnings-growth ratio of 3.00 and a beta of 0.89.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its quarterly 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 firm had revenue of $230.74 million for the quarter, compared to analyst estimates of $223.15 million. The firm's quarterly revenue was up 37.6% compared to the same quarter last year. As a group, equities analysts anticipate that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citizens Jmp raised shares of Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 price target for the company in a research report on Tuesday, March 18th. Morgan Stanley raised their price target on shares of Duolingo from $435.00 to $515.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Needham & Company LLC raised their price target on shares of Duolingo from $400.00 to $460.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Argus initiated coverage on shares of Duolingo in a research report on Wednesday, June 25th. They set a "buy" rating and a $575.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Duolingo from $500.00 to $580.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $443.53.

Insider Buying and Selling at Duolingo

In other Duolingo news, insider Robert Meese sold 10,000 shares of Duolingo stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $367.65, for a total value of $3,676,500.00. Following the transaction, the insider directly owned 123,805 shares in the company, valued at approximately $45,516,908.25. The trade was a 7.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction on Friday, June 20th. The shares were sold at an average price of $471.20, for a total transaction of $4,712,000.00. Following the completion of the transaction, the insider owned 72 shares in the company, valued at approximately $33,926.40. This represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,000 shares of company stock worth $29,261,180. 15.67% of the stock is owned by company 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.