TD Asset Management Inc Buys 12,138 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Key Points

• TD Asset Management Inc increased its stake in Duolingo, Inc. by 12.7% during the 1st quarter, owning 107,520 shares worth approximately $33.39 million.
• Duolingo reported a 37.6% increase in revenue year-over-year, with earnings per share of $0.72, exceeding estimates.
• Analyst ratings for Duolingo are favorable, with a consensus target price of $450.87 and a Moderate Buy rating from analysts.

TD Asset Management Inc boosted its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 12.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 107,520 shares of the company's stock after acquiring an additional 12,138 shares during the quarter. TD Asset Management Inc owned about 0.24% of Duolingo worth $33,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Duolingo by 39.9% in the fourth quarter. FMR LLC now owns 3,726,561 shares of the company's stock valued at $1,208,263,000 after purchasing an additional 1,063,327 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Duolingo by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company's stock worth $434,398,000 after buying an additional 10,638 shares during the period. 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 buying an additional 378,225 shares during the period. Geode Capital Management LLC boosted its holdings in Duolingo by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 683,498 shares of the company's stock valued at $221,676,000 after purchasing an additional 10,698 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Duolingo by 548.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company's stock valued at $152,659,000 after purchasing an additional 398,259 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Duolingo Price Performance

NASDAQ:DUOL traded down $11.15 on Friday, reaching $335.41. The stock had a trading volume of 483,144 shares, compared to its average volume of 887,835. 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 price of $430.58 and a 200-day moving average price of $391.09. The company has a market capitalization of $15.24 billion, a P/E ratio of 165.22, a price-to-earnings-growth ratio of 2.62 and a beta of 0.89. 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 announced its quarterly earnings data 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. The business 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 firm's quarterly revenue was up 37.6% compared to the same quarter last year. Research analysts forecast that Duolingo, Inc. will post 2.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DUOL shares. Scotiabank lifted their target price on Duolingo from $405.00 to $470.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. Morgan Stanley lowered their price objective on Duolingo from $515.00 to $480.00 and set an "overweight" rating on the stock in a report on Tuesday, July 8th. UBS Group reaffirmed an "overweight" rating on shares of Duolingo in a report on Thursday, May 22nd. Needham & Company LLC boosted their price target on Duolingo from $400.00 to $460.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group lifted their price objective on Duolingo from $340.00 to $403.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $450.87.

Insider Activity at Duolingo

In other news, insider Severin Hacker sold 10,000 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $360.33, for a total transaction of $3,603,300.00. Following the completion of the transaction, the insider directly owned 72 shares in the company, valued at $25,943.76. This represents a 99.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 50,000 shares of company stock worth $22,454,700 in the last quarter. Company insiders own 15.67% of the company's stock.

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.