Synovus Financial Corp Acquires New Position in Duolingo, Inc. $DUOL

Key Points

• Synovus Financial Corp acquired 1,220 shares of Duolingo, Inc., valued at approximately $379,000, as part of their new investment in the company during the 1st quarter.
• Multiple analysts have raised their price targets for Duolingo, with a consensus price target of $451.35 and ratings ranging from "Buy" to "Overweight".
• Insider Severin Hacker sold 10,000 shares of Duolingo stock, representing a 99.29% decrease in their ownership position, indicating significant insider selling activity.

Synovus Financial Corp acquired a new position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,220 shares of the company's stock, valued at approximately $379,000.

Several other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Duolingo by 20.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 153 shares of the company's stock worth $48,000 after purchasing an additional 26 shares during the last quarter. Lido Advisors LLC boosted its stake in shares of Duolingo by 0.3% during the fourth quarter. Lido Advisors LLC now owns 10,104 shares of the company's stock worth $3,276,000 after buying an additional 30 shares during the period. Crossmark Global Holdings Inc. boosted its stake 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 stake in shares of Duolingo by 24.4% during the first quarter. Larson Financial Group LLC now owns 199 shares of the company's stock worth $62,000 after buying an additional 39 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Duolingo by 20.4% during the first quarter. Fifth Third Bancorp now owns 313 shares of the company's stock worth $97,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Duolingo Trading Down 2.4%

Shares of NASDAQ DUOL traded down $7.04 during trading on Tuesday, hitting $290.82. 937,330 shares of the company traded hands, compared to its average volume of 1,059,686. Duolingo, Inc. has a 1 year low of $202.44 and a 1 year high of $544.93. The company has a 50-day moving average price of $359.03 and a 200-day moving average price of $387.02. The firm has a market capitalization of $13.33 billion, a P/E ratio of 119.40, a P/E/G ratio of 1.99 and a beta of 0.85. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.36. The company had revenue of $252.27 million during the quarter, compared to analysts' expectations of $240.84 million. Duolingo had a net margin of 13.24% and a return on equity of 13.32%. The business's quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. On average, equities analysts predict that Duolingo, Inc. will post 2.03 EPS for the current year.

Insiders Place Their Bets

In other news, insider Severin Hacker sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $344.56, for a total value of $3,445,600.00. Following the sale, the insider owned 72 shares in the company, valued at approximately $24,808.32. This represents a 99.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Natalie Glance sold 2,533 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $329.03, for a total transaction of $833,432.99. Following the sale, the insider directly owned 122,112 shares of the company's stock, valued at approximately $40,178,511.36. This represents a 2.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,508 shares of company stock worth $30,993,721. Company insiders own 18.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Argus assumed coverage on shares of Duolingo in a research note on Wednesday, June 25th. They set a "buy" rating and a $575.00 target price for the company. Citigroup assumed coverage on shares of Duolingo in a research report on Monday, August 18th. They issued a "buy" rating and a $400.00 price objective for the company. DA Davidson reduced their price objective on shares of Duolingo from $600.00 to $500.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. KeyCorp upgraded shares of Duolingo from a "sector weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research report on Monday, August 18th. Finally, UBS Group restated an "overweight" rating on shares of Duolingo in a research report on Thursday, May 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $451.35.

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.