Parallax Volatility Advisers L.P. Purchases Shares of 2,628 Duolingo, Inc. $DUOL

Key Points

• Parallax Volatility Advisers L.P. acquired 2,628 shares of Duolingo, Inc. valued at approximately $816,000, marking a new investment position in the company.
• Duolingo reported a 41.5% increase in revenue for the latest quarter, with earnings per share topping estimates at $0.91 compared to a projected $0.55.
• Analysts have mixed outlooks on Duolingo, with 12 analysts rating it as a Buy and an average price target set at $430.72, suggesting potential for significant price movement.

Parallax Volatility Advisers L.P. acquired a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,628 shares of the company's stock, valued at approximately $816,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in Duolingo by 20.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 153 shares of the company's stock valued at $48,000 after buying an additional 26 shares during the period. Crossmark Global Holdings Inc. lifted its position in Duolingo by 1.2% during the first quarter. Crossmark Global Holdings Inc. now owns 2,942 shares of the company's stock valued at $914,000 after buying an additional 34 shares during the period. Larson Financial Group LLC lifted its position in Duolingo by 24.4% during the first quarter. Larson Financial Group LLC now owns 199 shares of the company's stock valued at $62,000 after buying an additional 39 shares during the period. Fifth Third Bancorp lifted its position in Duolingo by 20.4% during the first quarter. Fifth Third Bancorp now owns 313 shares of the company's stock valued at $97,000 after buying an additional 53 shares during the period. Finally, Signaturefd LLC lifted its position in Duolingo by 90.1% during the first quarter. Signaturefd LLC now owns 135 shares of the company's stock valued at $42,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DUOL shares. Robert W. Baird started coverage on Duolingo in a research report on Friday, September 5th. They issued a "neutral" rating and a $280.00 price target for the company. Citigroup started coverage on Duolingo in a research report on Monday, August 18th. They issued a "buy" rating and a $400.00 price target for the company. Argus started coverage on Duolingo in a research report on Wednesday, June 25th. They issued a "buy" rating and a $575.00 price target for the company. Barclays lifted their price target on Duolingo from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, KeyCorp raised Duolingo from a "sector weight" rating to an "overweight" rating and set a $460.00 price target for the company in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $420.63.

Insiders Place Their Bets

In other Duolingo news, CFO Matthew Skaruppa sold 10,937 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $317.39, for a total transaction of $3,471,294.43. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Stephen C. Chen sold 1,515 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $321.36, for a total value of $486,860.40. Following the sale, the general counsel owned 32,638 shares of the company's stock, valued at approximately $10,488,547.68. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,508 shares of company stock worth $28,428,221 in the last 90 days. Corporate insiders own 15.67% of the company's stock.

Duolingo Stock Performance

NASDAQ:DUOL traded down $1.43 during mid-day trading on Friday, reaching $307.91. The company's stock had a trading volume of 2,171,951 shares, compared to its average volume of 1,837,668. Duolingo, Inc. has a 12-month low of $225.26 and a 12-month high of $544.93. The firm's fifty day moving average price is $337.69 and its two-hundred day moving average price is $379.39. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.10. The stock has a market cap of $14.11 billion, a P/E ratio of 126.71, a PEG ratio of 2.06 and a beta of 0.85.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its earnings results 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 return on equity of 13.32% and a net margin of 13.24%.The business had revenue of $252.27 million during the quarter, compared to analyst estimates of $240.84 million. During the same quarter in the previous year, the firm earned $0.51 EPS. Duolingo's revenue was up 41.5% on a year-over-year basis. On average, equities analysts forecast that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

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.