Fred Alger Management LLC Decreases Stock Position in Duolingo, Inc. (NASDAQ:DUOL)

Fred Alger Management LLC lessened its position in shares of Duolingo, Inc. (NASDAQ:DUOL - Free Report) by 25.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,070 shares of the company's stock after selling 3,727 shares during the period. Fred Alger Management LLC's holdings in Duolingo were worth $3,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its stake in Duolingo by 90.9% in the 3rd quarter. Barclays PLC now owns 42,613 shares of the company's stock worth $12,018,000 after acquiring an additional 20,289 shares during the last quarter. Tidal Investments LLC increased its stake in Duolingo by 8.0% in the third quarter. Tidal Investments LLC now owns 1,561 shares of the company's stock valued at $440,000 after acquiring an additional 115 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Duolingo during the 4th quarter valued at about $784,000. ORG Partners LLC boosted its stake in shares of Duolingo by 1,000.0% in the 4th quarter. ORG Partners LLC now owns 275 shares of the company's stock valued at $89,000 after purchasing an additional 250 shares in the last quarter. Finally, Harbour Capital Advisors LLC grew its holdings in shares of Duolingo by 16.7% during the 4th quarter. Harbour Capital Advisors LLC now owns 1,890 shares of the company's stock valued at $643,000 after purchasing an additional 270 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Duolingo

In other news, insider Natalie Glance sold 9,020 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $290.59, for a total value of $2,621,121.80. Following the sale, the insider now directly owns 130,733 shares of the company's stock, valued at $37,989,702.47. The trade was a 6.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $495.95, for a total value of $4,959,500.00. Following the transaction, the insider now directly owns 72 shares of the company's stock, valued at approximately $35,708.40. This trade represents a 99.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,868 shares of company stock valued at $38,594,200 in the last three months. 15.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Duolingo from $340.00 to $403.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Citizens Jmp upgraded Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 price objective on the stock in a report on Tuesday, March 18th. UBS Group boosted their target price on Duolingo from $400.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Needham & Company LLC raised their price target on Duolingo from $400.00 to $460.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, DA Davidson lifted their price target on Duolingo from $410.00 to $470.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $426.29.

Duolingo Trading Up 2.6%

Shares of Duolingo stock traded up $13.63 during midday trading on Tuesday, reaching $531.46. 823,089 shares of the company's stock traded hands, compared to its average volume of 720,758. The stock has a 50 day moving average of $347.48 and a 200-day moving average of $346.32. Duolingo, Inc. has a 12 month low of $145.05 and a 12 month high of $537.91. The company has a market cap of $24.16 billion, a PE ratio of 290.42 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.20. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm had revenue of $230.74 million for the quarter, compared to analyst estimates of $223.15 million. The business's revenue was up 37.6% compared to the same quarter last year. As a group, equities 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.