OMERS ADMINISTRATION Corp Boosts Holdings in Duolingo, Inc. $DUOL

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Duolingo, Inc. by 37.2% during the first quarter, bringing their total holdings to 5,763 shares valued at approximately $1.79 million.
• Several hedge funds, including BNP Paribas Financial Markets and Caisse DE Depot ET Placement DU Quebec, have also significantly increased their investments in Duolingo, indicating strong institutional interest in the company.
• Analysts have raised their price targets for Duolingo, with Morgan Stanley adjusting its target from $480 to $500, reflecting a generally positive outlook for the stock despite its recent 7.7% decline.

OMERS ADMINISTRATION Corp grew its holdings in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 37.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,763 shares of the company's stock after purchasing an additional 1,563 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Duolingo were worth $1,790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of Duolingo by 247.9% in the first quarter. BNP Paribas Financial Markets now owns 104,165 shares of the company's stock valued at $32,347,000 after purchasing an additional 74,223 shares during the period. Silvant Capital Management LLC acquired a new stake in Duolingo in the first quarter valued at approximately $1,946,000. Ieq Capital LLC raised its holdings in Duolingo by 69.7% in the first quarter. Ieq Capital LLC now owns 18,664 shares of the company's stock valued at $5,796,000 after acquiring an additional 7,664 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Duolingo by 71.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 22,561 shares of the company's stock valued at $7,006,000 after acquiring an additional 9,395 shares in the last quarter. Finally, Synovus Financial Corp acquired a new stake in Duolingo in the first quarter valued at approximately $379,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

DUOL has been the topic of several analyst reports. Morgan Stanley raised their target price on shares of Duolingo from $480.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Barclays raised their target price 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. JPMorgan Chase & Co. raised their target price on shares of Duolingo from $500.00 to $515.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. 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. Finally, Citizens Jmp cut their price objective on shares of Duolingo from $475.00 to $450.00 and set a "mkt outperform" rating on the stock in a report on Monday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $451.35.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 2,533 shares of Duolingo stock in a transaction on Friday, August 15th. The shares were sold at an average price of $329.03, for a total value of $833,432.99. Following the transaction, the insider directly owned 122,112 shares of the company's stock, valued at $40,178,511.36. The trade was a 2.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew Skaruppa sold 10,937 shares of Duolingo stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $317.39, for a total transaction of $3,471,294.43. Following the completion of the transaction, the chief financial officer directly owned 43,345 shares in the company, valued at $13,757,269.55. The trade was a 20.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,508 shares of company stock valued at $30,993,721. Insiders own 15.67% of the company's stock.

Duolingo Stock Down 7.7%

DUOL stock opened at $297.86 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.10. Duolingo, Inc. has a twelve month low of $202.44 and a twelve month high of $544.93. The company's 50 day moving average is $362.04 and its two-hundred day moving average is $388.25. The stock has a market cap of $13.65 billion, a P/E ratio of 122.58, a PEG ratio of 1.99 and a beta of 0.87.

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

Duolingo 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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