Intech Investment Management LLC Purchases 44,342 Shares of Duolingo, Inc. $DUOL

Key Points

• Intech Investment Management LLC increased its stake in Duolingo by 967.3% in Q3, buying 44,342 shares to hold 48,926 shares worth about $15.75 million (≈0.11% of the company).
• Institutions now own 91.59% of Duolingo, with large moves from Baillie Gifford, AQR, Man Group, Norges Bank and Vanguard, while insiders have sold 14,939 shares in the last 90 days and still own 15.67%.
• Analysts show a mixed view with a consensus Hold rating and an average target of $292.37 (11 Buy / 11 Hold / 1 Sell), even as the stock trades around $111.65 and the company has a $5.16 billion market cap.

Intech Investment Management LLC increased its stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 967.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,926 shares of the company's stock after purchasing an additional 44,342 shares during the quarter. Intech Investment Management LLC owned about 0.11% of Duolingo worth $15,746,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in Duolingo by 28.6% in the 3rd quarter. Baillie Gifford & Co. now owns 2,827,834 shares of the company's stock valued at $910,110,000 after purchasing an additional 628,943 shares during the period. Norges Bank purchased a new stake in shares of Duolingo in the second quarter worth $192,965,000. AQR Capital Management LLC raised its position in shares of Duolingo by 105.9% in the second quarter. AQR Capital Management LLC now owns 415,221 shares of the company's stock worth $170,249,000 after buying an additional 213,529 shares in the last quarter. Man Group plc boosted its stake in Duolingo by 248.5% during the second quarter. Man Group plc now owns 211,344 shares of the company's stock valued at $86,655,000 after buying an additional 150,695 shares during the period. Finally, Vanguard Group Inc. grew its position in Duolingo by 3.3% during the second quarter. Vanguard Group Inc. now owns 3,647,951 shares of the company's stock worth $1,495,733,000 after buying an additional 116,135 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

DUOL has been the topic of several recent analyst reports. Citizens Jmp cut Duolingo from a "market outperform" rating to a "hold" rating in a report on Thursday, November 6th. Truist Financial set a $245.00 price objective on shares of Duolingo in a research report on Thursday, January 15th. Evercore set a $330.00 price target on shares of Duolingo and gave the stock an "outperform" rating in a research note on Thursday, November 6th. Jefferies Financial Group increased their price target on shares of Duolingo from $210.00 to $220.00 and gave the stock a "hold" rating in a report on Thursday, December 11th. Finally, DA Davidson lowered their price objective on shares of Duolingo from $205.00 to $170.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 27th. Eleven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Duolingo has a consensus rating of "Hold" and an average target price of $292.37.

Insider Buying and Selling

In related news, CFO Matthew Skaruppa sold 3,986 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $113.52, for a total transaction of $452,490.72. Following the completion of the sale, the chief financial officer directly owned 31,631 shares in the company, valued at $3,590,751.12. This represents a 11.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stephen C. Chen sold 1,901 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $113.26, for a total value of $215,307.26. Following the completion of the sale, the general counsel owned 30,545 shares of the company's stock, valued at $3,459,526.70. The trade was a 5.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 14,939 shares of company stock worth $1,676,291. Insiders own 15.67% of the company's stock.

Duolingo Stock Performance

NASDAQ DUOL opened at $111.65 on Thursday. The company has a 50-day simple moving average of $147.49 and a two-hundred day simple moving average of $226.95. Duolingo, Inc. has a 12-month low of $104.51 and a 12-month high of $544.93. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 0.59 and a beta of 0.86. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.07.

About Duolingo

Duolingo, Inc NASDAQ: DUOL is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company's core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.

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