Equita Financial Network Inc. Invests $253,000 in Duolingo, Inc. (NASDAQ:DUOL)

Equita Financial Network Inc. acquired a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 814 shares of the company's stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new stake in shares of Duolingo in the first quarter worth about $25,000. Quarry LP grew its holdings in Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company's stock valued at $30,000 after buying an additional 65 shares in the last quarter. Garde Capital Inc. bought a new stake in Duolingo in the 1st quarter worth approximately $31,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Duolingo by 5,050.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company's stock worth $33,000 after acquiring an additional 101 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Duolingo by 323.1% during the 1st quarter. Versant Capital Management Inc now owns 110 shares of the company's stock valued at $34,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Insider Buying and Selling

In other Duolingo news, insider Severin Hacker sold 10,000 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $471.20, for a total value of $4,712,000.00. Following the completion of the sale, the insider directly owned 72 shares of the company's stock, valued at $33,926.40. The trade was a 99.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ahn Luis Von sold 8,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $327.41, for a total transaction of $2,619,280.00. The disclosure for this sale can be found here. Insiders have sold 73,000 shares of company stock valued at $29,261,180 in the last 90 days. Company insiders own 15.67% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DUOL. The Goldman Sachs Group boosted their price target on shares of Duolingo from $340.00 to $403.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. DA Davidson reduced their target price on shares of Duolingo from $600.00 to $500.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Needham & Company LLC upped their target price 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 assumed coverage on shares of Duolingo in a report on Wednesday, June 25th. They issued a "buy" rating and a $575.00 price target for the company. Finally, Morgan Stanley boosted their price objective on Duolingo from $435.00 to $515.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $443.53.

Duolingo Trading Down 0.4%

Shares of NASDAQ DUOL traded down $1.61 during midday trading on Thursday, hitting $395.39. The company's stock had a trading volume of 552,232 shares, compared to its average volume of 724,368. 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. The firm has a market cap of $17.97 billion, a P/E ratio of 194.78, a price-to-earnings-growth ratio of 3.04 and a beta of 0.89. The business's 50 day moving average is $477.01 and its two-hundred day moving average is $386.30.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.52 by $0.20. Duolingo had a return on equity of 11.70% and a net margin of 11.93%. 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% compared to the same quarter last year. As a group, equities research analysts expect that Duolingo, Inc. will post 2.03 EPS for the current year.

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.