Duolingo, Inc. (NASDAQ:DUOL) Shares Bought by Millennium Management LLC

Millennium Management LLC boosted its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 115.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,822 shares of the company's stock after acquiring an additional 10,083 shares during the period. Millennium Management LLC's holdings in Duolingo were worth $6,103,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quarry LP grew its stake in shares of Duolingo by 250.0% during the fourth quarter. Quarry LP now owns 91 shares of the company's stock worth $30,000 after purchasing an additional 65 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Duolingo during the 4th quarter worth about $31,000. Harvest Fund Management Co. Ltd boosted its position 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. Global Retirement Partners LLC increased its holdings in shares of Duolingo by 1,255.6% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the company's stock valued at $40,000 after acquiring an additional 113 shares during the last quarter. Finally, Smithfield Trust Co increased its holdings in shares of Duolingo by 41.8% in the 4th quarter. Smithfield Trust Co now owns 156 shares of the company's stock valued at $51,000 after acquiring an additional 46 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DUOL shares. DA Davidson boosted their price objective on shares of Duolingo from $470.00 to $600.00 and gave the stock a "buy" rating in a research report on Friday. Scotiabank upped their price objective on shares of Duolingo from $405.00 to $470.00 and gave the company a "sector outperform" rating in a research note on Friday, May 2nd. JMP Securities reiterated a "market perform" rating on shares of Duolingo in a research report on Friday, February 14th. The Goldman Sachs Group upped 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. Finally, Morgan Stanley raised their price target on Duolingo from $435.00 to $515.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Duolingo has a consensus rating of "Moderate Buy" and an average target price of $435.57.

Duolingo Stock Performance

NASDAQ:DUOL traded up $4.52 during mid-day trading on Friday, reaching $517.91. The stock had a trading volume of 1,135,329 shares, compared to its average volume of 710,279. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The business has a 50 day simple moving average of $407.80 and a 200 day simple moving average of $365.46. The firm has a market capitalization of $23.54 billion, a price-to-earnings ratio of 283.01 and a beta of 0.88. Duolingo, Inc. has a twelve month low of $145.05 and a twelve month high of $544.93.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.52 by $0.20. The company had revenue of $230.74 million for the quarter, compared to analyst estimates of $223.15 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm's revenue was up 37.6% compared to the same quarter last year. On average, analysts expect that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Natalie Glance sold 9,020 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $290.59, for a total value of $2,621,121.80. Following the sale, the insider now owns 130,733 shares in the company, valued at $37,989,702.47. This represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ahn Luis Von sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $293.80, for a total value of $2,350,400.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,853 shares of company stock worth $31,627,441. 15.67% of the stock is owned by company insiders.

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.