Lord Abbett & CO. LLC Sells 60,915 Shares of Duolingo, Inc. $DUOL

Key Points

• Lord Abbett & CO. LLC reduced its stake in Duolingo, Inc. by 33.6%, selling 60,915 shares and now owning approximately 0.27% of the company's stock.
• Several institutional investors, including Jefferies Financial Group and Ontario Teachers Pension Plan Board, initiated or increased their positions in Duolingo during the same quarter.
• Duolingo reported an earnings per share (EPS) of $0.91 for its last quarter, surpassing expectations and marking a 41.5% increase in revenue year-over-year.

Lord Abbett & CO. LLC cut its stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 33.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,540 shares of the company's stock after selling 60,915 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.27% of Duolingo worth $37,432,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Lido Advisors LLC lifted its stake in Duolingo by 0.3% in the fourth quarter. Lido Advisors LLC now owns 10,104 shares of the company's stock valued at $3,276,000 after buying an additional 30 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Duolingo by 1.2% in the first quarter. Crossmark Global Holdings Inc. now owns 2,942 shares of the company's stock valued at $914,000 after purchasing an additional 34 shares during the period. Larson Financial Group LLC boosted its stake in shares of Duolingo by 24.4% in the first quarter. Larson Financial Group LLC now owns 199 shares of the company's stock valued at $62,000 after purchasing an additional 39 shares during the period. Fifth Third Bancorp boosted its stake in shares of Duolingo by 20.4% in the first quarter. Fifth Third Bancorp now owns 313 shares of the company's stock valued at $97,000 after purchasing an additional 53 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Duolingo by 90.1% in the first quarter. Signaturefd LLC now owns 135 shares of the company's stock valued at $42,000 after purchasing an additional 64 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Duolingo Stock Down 0.9%

Shares of DUOL traded down $2.95 on Friday, hitting $326.93. The company's stock had a trading volume of 1,063,926 shares, compared to its average volume of 1,888,697. Duolingo, Inc. has a fifty-two week low of $198.33 and a fifty-two week high of $544.93. 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 firm's fifty day moving average price is $391.96 and its 200-day moving average price is $392.16. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 134.54, a P/E/G ratio of 2.18 and a beta of 0.87.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share 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 firm had revenue of $252.27 million during the quarter, compared to the consensus estimate of $240.84 million. During the same quarter in the prior year, the firm posted $0.51 EPS. The business's revenue was up 41.5% on a year-over-year basis. On average, equities research analysts expect that Duolingo, Inc. will post 2.03 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citizens Jmp decreased their target price on shares of Duolingo from $475.00 to $450.00 and set a "mkt outperform" rating for the company in a research note on Monday, July 28th. Morgan Stanley raised their target price on shares of Duolingo from $480.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Duolingo from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. The Goldman Sachs Group raised their target price on shares of Duolingo from $340.00 to $403.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, Evercore ISI raised their target price on shares of Duolingo from $400.00 to $480.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Duolingo currently has an average rating of "Moderate Buy" and a consensus price target of $454.20.

Insider Activity at Duolingo

In related news, insider Severin Hacker sold 10,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $344.41, for a total value of $3,444,100.00. Following the sale, the insider owned 72 shares in the company, valued at approximately $24,797.52. This represents a 99.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 50,000 shares of company stock valued at $20,939,300. Corporate insiders own 18.30% of the company's stock.

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.