PFG Investments LLC Makes New Investment in Duolingo, Inc. (NASDAQ:DUOL)

PFG Investments LLC purchased a new position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,002 shares of the company's stock, valued at approximately $311,000.

A number of other hedge funds have also modified their holdings of DUOL. FMR LLC boosted its position in shares of Duolingo by 39.9% during the fourth quarter. FMR LLC now owns 3,726,561 shares of the company's stock worth $1,208,263,000 after acquiring an additional 1,063,327 shares during the last quarter. Norges Bank bought a new position in shares of Duolingo during the fourth quarter worth $152,296,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Duolingo by 548.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company's stock worth $152,659,000 after acquiring an additional 398,259 shares during the last quarter. Invesco Ltd. boosted its position in shares of Duolingo by 53.5% during the fourth quarter. Invesco Ltd. now owns 1,085,066 shares of the company's stock worth $351,811,000 after acquiring an additional 378,225 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Duolingo by 41,959.1% during the first quarter. GAMMA Investing LLC now owns 239,737 shares of the company's stock worth $74,448,000 after acquiring an additional 239,167 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Duolingo from $330.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Morgan Stanley upped their target price on shares of Duolingo from $435.00 to $515.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. The Goldman Sachs Group upped their target price on shares of Duolingo from $340.00 to $403.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. upped their price target on shares of Duolingo from $500.00 to $580.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Finally, Scotiabank upped their price target 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. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $441.29.

Insider Activity

In related news, insider Robert Meese sold 5,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $395.00, for a total value of $1,975,000.00. Following the transaction, the insider now owns 118,805 shares of the company's stock, valued at $46,927,975. This trade represents a 4.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Natalie Glance sold 3,482 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $319.59, for a total transaction of $1,112,812.38. Following the completion of the transaction, the insider now directly owns 127,251 shares in the company, valued at $40,668,147.09. This represents a 2.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,482 shares of company stock valued at $30,373,992. 18.30% of the stock is currently owned by company insiders.

Duolingo Trading Down 5.7%

Shares of DUOL opened at $422.79 on Wednesday. Duolingo, Inc. has a twelve month low of $145.05 and a twelve month high of $544.93. The company has a market cap of $19.22 billion, a P/E ratio of 208.27, a P/E/G ratio of 3.44 and a beta of 1.00. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.06. The company's fifty day simple moving average is $468.28 and its 200-day simple moving average is $383.98.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.20. Duolingo had a net margin of 11.93% and a return on equity of 11.70%. The business had revenue of $230.74 million for the quarter, compared to the consensus estimate of $223.15 million. The company's quarterly revenue was up 37.6% on a year-over-year basis. As a group, analysts expect that Duolingo, Inc. will post 2.03 EPS for the current year.

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.

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