Peregrine Capital Management LLC Reduces Position in Duolingo, Inc. (NASDAQ:DUOL)

Peregrine Capital Management LLC decreased its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,474 shares of the company's stock after selling 18,910 shares during the quarter. Duolingo makes up about 1.0% of Peregrine Capital Management LLC's holdings, making the stock its 21st biggest position. Peregrine Capital Management LLC owned approximately 0.22% of Duolingo worth $30,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Contravisory Investment Management Inc. acquired a new position in shares of Duolingo in the 1st quarter valued at $25,000. Quarry LP raised its stake in shares of Duolingo by 250.0% in the fourth quarter. Quarry LP now owns 91 shares of the company's stock worth $30,000 after acquiring an additional 65 shares during the last quarter. Garde Capital Inc. bought a new stake in shares of Duolingo during the first quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd increased its stake in shares of Duolingo by 5,050.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company's stock valued at $33,000 after buying an additional 101 shares during the period. Finally, Versant Capital Management Inc increased its position in Duolingo by 323.1% in the first quarter. Versant Capital Management Inc now owns 110 shares of the company's stock worth $34,000 after purchasing an additional 84 shares during the period. Institutional investors own 91.59% of the company's stock.

Insider Transactions at Duolingo

In related news, insider Severin Hacker sold 10,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $471.20, for a total value of $4,712,000.00. Following the sale, the insider directly owned 72 shares in the company, valued at approximately $33,926.40. The trade was a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ahn Luis Von sold 8,000 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $327.41, for a total transaction of $2,619,280.00. The disclosure for this sale can be found here. Insiders have sold 73,000 shares of company stock worth $29,261,180 in the last quarter. Company insiders own 15.67% of the company's stock.

Wall Street Analysts Forecast Growth

DUOL has been the topic of a number of recent analyst reports. Argus started coverage on shares of Duolingo in a research report on Wednesday, June 25th. They set a "buy" rating and a $575.00 price target on the stock. Scotiabank lifted their price objective on shares of Duolingo from $405.00 to $470.00 and gave the company a "sector outperform" rating in a report on Friday, May 2nd. Piper Sandler set a $375.00 target price on shares of Duolingo in a report on Friday, May 2nd. The Goldman Sachs Group lifted their price target on shares of Duolingo from $340.00 to $403.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Duolingo from $500.00 to $580.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Duolingo presently has a consensus rating of "Moderate Buy" and a consensus price target of $443.53.

Duolingo Price Performance

Shares of DUOL stock traded down $6.06 on Wednesday, reaching $397.00. The company's stock had a trading volume of 637,421 shares, compared to its average volume of 723,400. The stock's 50 day simple moving average is $476.60 and its 200-day simple moving average is $385.98. The company has a market capitalization of $18.04 billion, a P/E ratio of 195.57, a PEG ratio of 3.09 and a beta of 0.89. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $544.93. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.06.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.72 EPS for the quarter, beating 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 11.93% and a return on equity of 11.70%. The business's quarterly revenue was up 37.6% on a year-over-year basis. As a group, equities analysts predict that Duolingo, Inc. will post 2.03 earnings per share 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.