First Citizens Bank & Trust Co. Buys Shares of 1,506 Duolingo, Inc. $DUOL

First Citizens Bank & Trust Co. acquired a new position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,506 shares of the company's stock, valued at approximately $617,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC boosted its holdings in shares of Duolingo by 43.6% in the first quarter. Rise Advisors LLC now owns 79 shares of the company's stock worth $25,000 after buying an additional 24 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Duolingo by 20.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 153 shares of the company's stock valued at $48,000 after acquiring an additional 26 shares during the last quarter. Parallel Advisors LLC lifted its stake in Duolingo by 16.3% in the second quarter. Parallel Advisors LLC now owns 186 shares of the company's stock valued at $76,000 after acquiring an additional 26 shares during the last quarter. US Bancorp DE lifted its stake in Duolingo by 1.4% in the second quarter. US Bancorp DE now owns 1,968 shares of the company's stock valued at $807,000 after acquiring an additional 28 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in 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 acquiring an additional 34 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Duolingo

In related news, CFO Matthew Skaruppa sold 10,937 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $317.39, for a total value of $3,471,294.43. Following the completion of the transaction, the chief financial officer directly owned 43,345 shares of the company's stock, valued at approximately $13,757,269.55. This trade represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Natalie Glance sold 3,283 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $312.30, for a total transaction of $1,025,280.90. Following the completion of the transaction, the insider directly owned 116,171 shares of the company's stock, valued at $36,280,203.30. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,791 shares of company stock valued at $26,462,201 in the last ninety days. 15.67% of the stock is currently owned by corporate insiders.

Duolingo Stock Down 0.5%

DUOL opened at $312.00 on Friday. The firm's 50-day simple moving average is $312.02 and its 200-day simple moving average is $381.37. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.81 and a current ratio of 2.81. Duolingo, Inc. has a twelve month low of $256.63 and a twelve month high of $544.93. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 128.40, a PEG ratio of 2.05 and a beta of 0.86.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.36. The business had revenue of $252.27 million for the quarter, compared to the consensus estimate of $240.84 million. Duolingo had a net margin of 13.24% and a return on equity of 13.32%. The firm's quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. Equities research analysts anticipate that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research lowered shares of Duolingo from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 13th. Raymond James Financial reissued a "market perform" rating on shares of Duolingo in a research report on Tuesday, August 26th. Morgan Stanley lifted their price target on shares of Duolingo from $480.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Duolingo in a report on Friday. Finally, Barclays boosted their price target on shares of Duolingo from $375.00 to $390.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Twelve investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $414.05.

Duolingo Company 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.

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