Duolingo, Inc. (NASDAQ:DUOL) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in Duolingo, Inc. (NASDAQ:DUOL) by 32.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,921 shares of the company’s stock after selling 5,706 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Duolingo were worth $2,488,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC raised its stake in shares of Duolingo by 350.7% in the 2nd quarter. Headlands Technologies LLC now owns 3,457 shares of the company’s stock valued at $721,000 after purchasing an additional 2,690 shares in the last quarter. Texas Permanent School Fund Corp acquired a new stake in Duolingo during the second quarter worth about $5,591,000. Mount Lucas Management LP acquired a new stake in Duolingo during the second quarter worth about $273,000. New Mexico Educational Retirement Board acquired a new stake in Duolingo during the second quarter worth about $1,544,000. Finally, Private Advisor Group LLC raised its stake in Duolingo by 10.0% during the second quarter. Private Advisor Group LLC now owns 12,936 shares of the company’s stock worth $2,699,000 after acquiring an additional 1,172 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DUOL. Piper Sandler reiterated an “overweight” rating and set a $271.00 price objective on shares of Duolingo in a research note on Friday, August 30th. Evercore ISI upgraded shares of Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. dropped their price objective on shares of Duolingo from $275.00 to $255.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. DA Davidson reiterated a “buy” rating and set a $250.00 price objective on shares of Duolingo in a research note on Tuesday, September 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $260.00 price objective on shares of Duolingo in a research note on Wednesday, July 10th. One 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 issued a strong buy rating to the company. According to data from MarketBeat, Duolingo presently has an average rating of “Moderate Buy” and a consensus target price of $237.40.

Duolingo Price Performance

NASDAQ DUOL opened at $250.23 on Thursday. Duolingo, Inc. has a 52 week low of $140.16 and a 52 week high of $258.00. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. The stock has a market cap of $10.79 billion, a price-to-earnings ratio of 257.97 and a beta of 0.76. The company has a 50-day moving average price of $195.83 and a two-hundred day moving average price of $203.34.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.19. The business had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $177.13 million. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The business’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the firm posted $0.08 earnings per share. Analysts forecast that Duolingo, Inc. will post 1.87 EPS for the current year.

Insider Activity

In other news, insider Severin Hacker sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $198.61, for a total value of $1,986,100.00. Following the completion of the transaction, the insider now directly owns 72 shares in the company, valued at $14,299.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Severin Hacker sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $198.61, for a total value of $1,986,100.00. Following the completion of the transaction, the insider now directly owns 72 shares in the company, valued at $14,299.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ahn Luis Von sold 1,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $215.00, for a total transaction of $215,000.00. The disclosure for this sale can be found here. Insiders sold 92,555 shares of company stock worth $18,302,871 over the last three months. Corporate insiders own 18.30% 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.