Portside Wealth Group LLC Acquires New Position in Duolingo, Inc. (NASDAQ:DUOL)

Portside Wealth Group LLC bought a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 751 shares of the company's stock, valued at approximately $233,000.

Several other large investors also recently added to or reduced their stakes in the business. Kensington Investment Counsel LLC grew its position in Duolingo by 0.5% during the fourth quarter. Kensington Investment Counsel LLC now owns 5,633 shares of the company's stock valued at $1,826,000 after buying an additional 30 shares during the period. Lido Advisors LLC grew its position in Duolingo by 0.3% during the fourth quarter. Lido Advisors LLC now owns 10,104 shares of the company's stock valued at $3,276,000 after buying an additional 30 shares during the period. Atria Investments Inc lifted its holdings in Duolingo by 3.9% during the fourth quarter. Atria Investments Inc now owns 1,029 shares of the company's stock valued at $334,000 after purchasing an additional 39 shares in the last quarter. Lisanti Capital Growth LLC lifted its holdings in Duolingo by 0.3% during the fourth quarter. Lisanti Capital Growth LLC now owns 11,685 shares of the company's stock valued at $3,789,000 after purchasing an additional 40 shares in the last quarter. Finally, Smithfield Trust Co lifted its holdings in Duolingo by 41.8% during the fourth quarter. Smithfield Trust Co now owns 156 shares of the company's stock valued at $51,000 after purchasing an additional 46 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. DA Davidson lifted their price target on shares of Duolingo from $470.00 to $600.00 and gave the company a "buy" rating in a report on Friday, May 30th. Evercore ISI boosted their target price on shares of Duolingo from $400.00 to $480.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Barclays boosted their target price on shares of Duolingo from $330.00 to $375.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. JMP Securities restated a "market perform" rating on shares of Duolingo in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Duolingo from $500.00 to $580.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $441.29.

Insider Buying and Selling

In other Duolingo news, insider Robert Meese sold 5,351 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $320.02, for a total transaction of $1,712,427.02. Following the completion of the sale, the insider now directly owns 133,805 shares of the company's stock, valued at approximately $42,820,276.10. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Severin Hacker sold 10,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $298.25, for a total transaction of $2,982,500.00. Following the sale, the insider now directly owns 72 shares of the company's stock, valued at approximately $21,474. The trade was a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,833 shares of company stock valued at $34,257,319 over the last three months. 15.67% of the stock is owned by company insiders.

Duolingo Stock Down 0.6%

NASDAQ:DUOL traded down $3.00 during mid-day trading on Friday, reaching $478.48. The company's stock had a trading volume of 550,515 shares, compared to its average volume of 717,321. Duolingo, Inc. has a 1 year low of $145.05 and a 1 year high of $544.93. The stock has a fifty day moving average of $448.57 and a 200-day moving average of $378.62. The firm has a market capitalization of $21.75 billion, a PE ratio of 261.47 and a beta of 1.00. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.20. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The company had revenue of $230.74 million during the quarter, compared to analyst estimates of $223.15 million. Duolingo's revenue for the quarter was up 37.6% on a year-over-year basis. Equities research analysts forecast that Duolingo, Inc. will post 2.03 earnings per share 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.