Erste Asset Management GmbH Lowers Holdings in Duolingo, Inc. $DUOL

Key Points

• Erste Asset Management GmbH decreased its holdings in Duolingo by 18.6% during the first quarter, owning 44,738 shares valued at approximately $14.57 million after selling 10,230 shares.
• Various institutional investors, including Jefferies Financial Group, TD Asset Management, and Ontario Teachers Pension Plan Board, made significant changes to their stakes in Duolingo during the same quarter, with 91.59% of the stock owned by institutional investors.
• Despite recent insider sell-offs, Duolingo reported a strong quarterly performance with $252.27 million in revenue and earnings per share of $0.91, exceeding analysts' expectations.

Erste Asset Management GmbH decreased its position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 18.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,738 shares of the company's stock after selling 10,230 shares during the quarter. Erste Asset Management GmbH owned 0.10% of Duolingo worth $14,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new stake in Duolingo in the 1st quarter worth approximately $25,000. Quarry LP increased its position in shares of Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company's stock valued at $30,000 after purchasing an additional 65 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Duolingo during the 1st quarter valued at approximately $28,000. Brooklyn Investment Group increased its position in shares of Duolingo by 4,750.0% during the 1st quarter. Brooklyn Investment Group now owns 97 shares of the company's stock valued at $30,000 after purchasing an additional 95 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in shares of Duolingo during the 1st quarter valued at approximately $31,000. Institutional investors own 91.59% of the company's stock.

Insider Activity at Duolingo

In related news, insider Natalie Glance sold 2,533 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $329.03, for a total transaction of $833,432.99. Following the completion of the transaction, the insider owned 122,112 shares in the company, valued at $40,178,511.36. The trade was a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Severin Hacker sold 10,000 shares of the company's 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 completion of the sale, the insider owned 72 shares of the company's stock, valued at $24,797.52. This represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,056 shares of company stock worth $27,035,566 over the last quarter. 18.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DUOL has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Duolingo from $500.00 to $515.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Needham & Company LLC boosted their target price on 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 Duolingo in a research report on Wednesday, June 25th. They set a "buy" rating and a $575.00 target price on the stock. Scotiabank boosted their target price on Duolingo from $405.00 to $470.00 and gave the company a "sector outperform" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group boosted their target price on Duolingo from $340.00 to $403.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Duolingo has an average rating of "Moderate Buy" and a consensus price target of $451.35.

Duolingo Trading Down 3.2%

DUOL traded down $10.5360 during trading hours on Monday, reaching $321.3340. 1,058,033 shares of the company's stock traded hands, compared to its average volume of 1,044,574. The firm has a 50-day moving average price of $378.13 and a 200 day moving average price of $390.98. Duolingo, Inc. has a 52-week low of $202.38 and a 52-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 has a market capitalization of $14.72 billion, a PE ratio of 132.73, a PEG ratio of 2.21 and a beta of 0.87.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $252.27 million during the quarter, compared to analysts' expectations of $240.84 million. During the same quarter in the previous year, the business earned $0.51 EPS. Duolingo's revenue was up 41.5% compared to the same quarter last year. As a group, sell-side analysts predict that Duolingo, Inc. will post 2.03 EPS for the current fiscal 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.