Envestnet Asset Management Inc. Lowers Position in Duolingo, Inc. (NASDAQ:DUOL)

Envestnet Asset Management Inc. reduced its position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 8.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,490 shares of the company's stock after selling 2,708 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Duolingo worth $9,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DUOL. Congress Asset Management Co. bought a new position in Duolingo during the 1st quarter valued at approximately $15,430,000. Catalyst Capital Advisors LLC lifted its stake in Duolingo by 12.6% in the first quarter. Catalyst Capital Advisors LLC now owns 6,925 shares of the company's stock worth $2,150,000 after acquiring an additional 775 shares during the period. BNP Paribas Financial Markets purchased a new position in Duolingo during the 4th quarter valued at $9,708,000. Janney Montgomery Scott LLC bought a new position in Duolingo in the 1st quarter worth $282,000. Finally, Redwood Investment Management LLC purchased a new stake in shares of Duolingo in the 4th quarter worth about $1,429,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Duolingo Stock Up 0.5%

DUOL traded up $1.76 during trading on Thursday, hitting $361.55. 376,496 shares of the company's stock traded hands, compared to its average volume of 881,988. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 178.10, a PEG ratio of 2.74 and a beta of 0.89. The company's 50 day simple moving average is $451.59 and its two-hundred day simple moving average is $390.07. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month 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.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its quarterly earnings data 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 net margin of 11.93% and a return on equity of 11.70%. The company had revenue of $230.74 million for the quarter, compared to the consensus estimate of $223.15 million. The company's revenue for the quarter was up 37.6% on a year-over-year basis. Analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on DUOL. Needham & Company LLC upped their target price on Duolingo from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Morgan Stanley reduced their price target on Duolingo from $515.00 to $480.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 8th. Barclays boosted their target price on shares of Duolingo from $330.00 to $375.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Piper Sandler set a $375.00 price target on shares of Duolingo in a research note on Friday, May 2nd. Finally, UBS Group reissued an "overweight" rating on shares of Duolingo in a research note on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Duolingo currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.87.

Insider Buying and Selling at Duolingo

In other Duolingo news, insider Severin Hacker sold 10,000 shares of the stock in a transaction dated 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 transaction, the insider owned 72 shares of the company's stock, valued at approximately $25,943.76. This represents a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Meese sold 5,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $395.00, for a total value of $1,975,000.00. Following the sale, the insider owned 118,805 shares of the company's stock, valued at approximately $46,927,975. This represents a 4.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock worth $24,429,700 over the last three months. Insiders own 15.67% of the company's stock.

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.