Truist Financial Corp Has $1.84 Million Stock Position in Duolingo, Inc. $DUOL

Key Points

• Truist Financial Corp has increased its stake in Duolingo, Inc. by 49.1%, bringing its total holdings to $1.84 million after buying 1,477 additional shares during the second quarter.
• Insider trades reveal significant stock sales, with General Counsel Stephen C. Chen selling shares worth $486,860.40 and other insiders selling a total of 83,791 shares valued at approximately $26.9 million in the last three months.
• Analyst ratings show a mixed outlook for Duolingo, as KeyCorp upgraded it to an "overweight" rating with a price target of $460, while Wells Fargo issued an "underweight" rating with a target of $239.

Truist Financial Corp raised its stake in Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 49.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,487 shares of the company's stock after buying an additional 1,477 shares during the period. Truist Financial Corp's holdings in Duolingo were worth $1,840,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DUOL. GAMMA Investing LLC boosted its position in Duolingo by 35.4% in the first quarter. GAMMA Investing LLC now owns 772 shares of the company's stock valued at $240,000 after buying an additional 202 shares in the last quarter. Fifth Third Bancorp raised 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 valued at $97,000 after acquiring an additional 53 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Duolingo by 52.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,354 shares of the company's stock valued at $1,663,000 after acquiring an additional 1,836 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Duolingo during the first quarter valued at $282,000. Finally, QRG Capital Management Inc. raised its stake in shares of Duolingo by 26.7% during the first quarter. QRG Capital Management Inc. now owns 1,928 shares of the company's stock valued at $599,000 after acquiring an additional 406 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DUOL shares. KeyCorp raised shares of Duolingo from a "sector weight" rating to an "overweight" rating and set a $460.00 price target for the company in a research note on Monday, August 18th. Wells Fargo & Company started coverage on shares of Duolingo in a research note on Monday, September 8th. They set an "underweight" rating and a $239.00 price target for the company. Barclays raised their price target on shares of Duolingo from $375.00 to $390.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Duolingo in a research note on Wednesday. Finally, Robert W. Baird assumed coverage on shares of Duolingo in a research note on Friday, September 5th. They set a "neutral" rating and a $280.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $419.32.

Insiders Place Their Bets

In other Duolingo news, 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 sale, the general counsel directly owned 32,638 shares in the company, valued at approximately $10,488,547.68. This trade represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Natalie Glance sold 3,283 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $312.30, for a total transaction of $1,025,280.90. Following the completion of the sale, the insider owned 116,171 shares of the company's stock, valued at $36,280,203.30. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 83,791 shares of company stock valued at $26,918,301. 15.67% of the stock is currently owned by corporate insiders.

Duolingo Trading Down 3.6%

NASDAQ:DUOL opened at $325.00 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of 133.74, a PEG ratio of 2.17 and a beta of 0.86. The firm has a fifty day simple moving average of $316.50 and a two-hundred day simple moving average of $380.61. Duolingo, Inc. has a 12 month low of $256.63 and a 12 month high of $544.93.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.36. The business 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% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. Analysts expect that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

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.

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