Duolingo, Inc. $DUOL Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Duolingo, Inc. by 23.0%, owning 15,852 shares worth approximately $4.92 million after selling 4,742 shares.
• Analysts have mixed views on Duolingo, with Wall Street Zen downgrading the stock to a "hold" rating, while Morgan Stanley and KeyCorp have raised their price targets and ratings.
• Duolingo's last quarter earnings showed strong performance with $252.27 million in revenue, surpassing estimates, and a net margin of 13.24%.

Raymond James Financial Inc. lessened its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 23.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 15,852 shares of the company's stock after selling 4,742 shares during the quarter. Raymond James Financial Inc.'s holdings in Duolingo were worth $4,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its position in shares of Duolingo by 1.2% during the first quarter. Crossmark Global Holdings Inc. now owns 2,942 shares of the company's stock worth $914,000 after buying an additional 34 shares during the period. Larson Financial Group LLC boosted 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 acquiring an additional 39 shares during the last quarter. Fifth Third Bancorp grew its holdings in Duolingo by 20.4% during the 1st quarter. Fifth Third Bancorp now owns 313 shares of the company's stock worth $97,000 after acquiring an additional 53 shares during the period. Signaturefd LLC raised its position in shares of Duolingo by 90.1% in the 1st quarter. Signaturefd LLC now owns 135 shares of the company's stock worth $42,000 after acquiring an additional 64 shares in the last quarter. Finally, Dorsey Wright & Associates lifted its stake in shares of Duolingo by 1.0% in the 1st quarter. Dorsey Wright & Associates now owns 7,067 shares of the company's stock valued at $2,195,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Insider Transactions at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 10,937 shares of the business's stock in a transaction on 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 sale, the chief financial officer directly owned 43,345 shares in the company, valued at approximately $13,757,269.55. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stephen C. Chen sold 1,515 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $321.36, for a total value of $486,860.40. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,508 shares of company stock valued at $28,428,221. Company insiders own 15.67% of the company's stock.

Duolingo Price Performance

NASDAQ:DUOL traded up $12.42 during trading hours on Wednesday, hitting $285.91. The company's stock had a trading volume of 2,050,265 shares, compared to its average volume of 1,759,985. Duolingo, Inc. has a 52-week low of $212.85 and a 52-week high of $544.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.81 and a current ratio of 2.81. The business's 50-day moving average is $341.16 and its two-hundred day moving average is $380.53. The company has a market capitalization of $13.10 billion, a PE ratio of 117.66, a PEG ratio of 1.82 and a beta of 0.85.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly 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 net margin of 13.24% and a return on equity of 13.32%. The business had revenue of $252.27 million for the quarter, compared to analysts' expectations of $240.84 million. During the same period in the prior year, the company posted $0.51 EPS. The business's revenue for the quarter was up 41.5% on a year-over-year basis. As a group, research analysts anticipate that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

Analysts Set New Price Targets

DUOL has been the subject of a number of research analyst reports. DA Davidson downgraded Duolingo from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $500.00 to $300.00 in a report on Thursday, September 4th. Citigroup assumed coverage on shares of Duolingo in a research note on Monday, August 18th. They set a "buy" rating and a $400.00 target price on the stock. Argus assumed coverage on shares of Duolingo in a research note on Wednesday, June 25th. They issued a "buy" rating and a $575.00 price target for the company. Morgan Stanley increased their price objective on shares of Duolingo from $480.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company initiated coverage on Duolingo in a research report on Monday. They issued an "underweight" rating and a $239.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $420.63.

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.