TD Asset Management Inc Has $43.36 Million Position in Duolingo, Inc. $DUOL

Key Points

• TD Asset Management Inc has reduced its stake in Duolingo, Inc. to 0.23%, representing a value of $43.36 million, after selling 1,776 shares in the 2nd quarter.
• Several institutional investors, including T. Rowe Price and AQR Capital Management, significantly increased their positions in Duolingo during the first quarter, showcasing growing interest in the company.
• Duolingo reported a 41.5% increase in quarterly revenue year-over-year, with earnings per share of $0.91, surpassing analysts' expectations by $0.36.

TD Asset Management Inc lowered its position in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,744 shares of the company's stock after selling 1,776 shares during the quarter. TD Asset Management Inc owned 0.23% of Duolingo worth $43,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in DUOL. T. Rowe Price Investment Management Inc. increased its stake in shares of Duolingo by 110.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company's stock valued at $307,716,000 after buying an additional 520,069 shares during the period. Invesco Ltd. increased its stake in shares of Duolingo by 24.1% in the first quarter. Invesco Ltd. now owns 1,346,278 shares of the company's stock valued at $418,073,000 after buying an additional 261,212 shares during the period. Nuveen LLC acquired a new position in shares of Duolingo in the first quarter valued at approximately $42,950,000. 1832 Asset Management L.P. increased its stake in shares of Duolingo by 746.9% in the first quarter. 1832 Asset Management L.P. now owns 137,200 shares of the company's stock valued at $42,606,000 after buying an additional 121,000 shares during the period. Finally, AQR Capital Management LLC increased its position in Duolingo by 123.8% during the 1st quarter. AQR Capital Management LLC now owns 201,692 shares of the company's stock valued at $61,478,000 after purchasing an additional 111,589 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Insider Activity at Duolingo

In related news, General Counsel Stephen C. Chen sold 1,515 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $321.36, for a total value of $486,860.40. Following the transaction, the general counsel directly owned 32,638 shares in the company, valued at $10,488,547.68. This trade represents a 4.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Severin Hacker sold 10,000 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $321.63, for a total value of $3,216,300.00. Following the completion of the transaction, the insider owned 72 shares in the company, valued at approximately $23,157.36. This represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,791 shares of company stock worth $26,918,301. Corporate insiders own 15.67% of the company's stock.

Duolingo Stock Performance

Shares of DUOL stock opened at $330.56 on Friday. The company has a market cap of $15.15 billion, a price-to-earnings ratio of 136.03, a price-to-earnings-growth ratio of 2.25 and a beta of 0.86. Duolingo, Inc. has a 52 week low of $256.63 and a 52 week high of $544.93. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $314.65 and a 200-day moving average of $380.58.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on DUOL shares. KeyCorp raised shares of Duolingo from a "sector weight" rating to an "overweight" rating and set a $460.00 target price for the company in a research report on Monday, August 18th. Raymond James Financial reissued a "market perform" rating on shares of Duolingo in a research report on Tuesday, August 26th. Needham & Company LLC reissued a "buy" rating and set a $460.00 target price on shares of Duolingo in a research report on Wednesday, September 17th. DA Davidson downgraded shares of Duolingo from a "buy" rating to a "neutral" rating and decreased their target price for the company from $500.00 to $300.00 in a research report on Thursday, September 4th. Finally, Morgan Stanley increased their target price on shares of Duolingo from $480.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Twelve investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Duolingo presently has a consensus rating of "Hold" and an average price target of $416.68.

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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