Prudential PLC Lowers Position in Duolingo, Inc. (NASDAQ:DUOL)

Prudential PLC lowered its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 16.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,560 shares of the company’s stock after selling 310 shares during the period. Prudential PLC’s holdings in Duolingo were worth $326,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Duolingo in the 4th quarter valued at about $84,042,000. Whale Rock Capital Management LLC lifted its position in Duolingo by 23.9% during the first quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after buying an additional 245,599 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Duolingo by 153.1% during the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock worth $82,450,000 after buying an additional 238,990 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Duolingo by 73.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after acquiring an additional 154,659 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Duolingo in the 1st quarter valued at $28,555,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ahn Luis Von sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $215.00, for a total transaction of $215,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Duolingo news, CEO Ahn Luis Von sold 1,000 shares of Duolingo stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $215.00, for a total value of $215,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $161.78, for a total value of $242,670.00. Following the completion of the transaction, the insider now directly owns 144,282 shares in the company, valued at approximately $23,341,941.96. The disclosure for this sale can be found here. Insiders have sold a total of 92,555 shares of company stock valued at $18,302,871 over the last quarter. Corporate insiders own 18.30% of the company’s stock.

Duolingo Stock Performance

Shares of DUOL opened at $228.73 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. Duolingo, Inc. has a 1 year low of $140.16 and a 1 year high of $251.30. The firm has a fifty day moving average of $192.73 and a 200-day moving average of $202.89. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 235.81 and a beta of 0.76.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The business had revenue of $178.30 million during the quarter, compared to analyst estimates of $177.13 million. During the same period in the prior year, the company posted $0.08 EPS. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, equities analysts anticipate that Duolingo, Inc. will post 1.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $260.00 target price on shares of Duolingo in a report on Wednesday, July 10th. Wolfe Research started coverage on shares of Duolingo in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Bank of America raised shares of Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 target price on the stock in a research report on Friday, July 26th. Evercore ISI raised shares of Duolingo to a “strong-buy” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Duolingo from $275.00 to $255.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $237.40.

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.