Seven Eight Capital LP Sells 6,998 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Seven Eight Capital LP trimmed its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 64.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,856 shares of the company’s stock after selling 6,998 shares during the quarter. Seven Eight Capital LP’s holdings in Duolingo were worth $805,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DUOL. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Duolingo by 5.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,046 shares of the company’s stock worth $231,000 after acquiring an additional 55 shares during the last quarter. 9258 Wealth Management LLC grew its position in shares of Duolingo by 4.4% during the fourth quarter. 9258 Wealth Management LLC now owns 1,529 shares of the company’s stock valued at $347,000 after purchasing an additional 65 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Duolingo by 3.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,962 shares of the company’s stock worth $409,000 after purchasing an additional 73 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Duolingo by 19.5% in the second quarter. Nisa Investment Advisors LLC now owns 520 shares of the company’s stock worth $109,000 after buying an additional 85 shares in the last quarter. Finally, Strategic Advocates LLC boosted its stake in Duolingo by 8.3% during the second quarter. Strategic Advocates LLC now owns 1,149 shares of the company’s stock valued at $240,000 after buying an additional 88 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Duolingo

In related news, General Counsel Stephen C. Chen sold 19,464 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $211.55, for a total value of $4,117,609.20. Following the completion of the sale, the general counsel now owns 35,558 shares in the company, valued at $7,522,294.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Duolingo news, General Counsel Stephen C. Chen sold 19,464 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the transaction, the general counsel now directly owns 35,558 shares in the company, valued at approximately $7,522,294.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ahn Luis Von sold 1,000 shares of Duolingo stock in a transaction on Friday, June 28th. The shares were sold at an average price of $215.00, for a total value of $215,000.00. The disclosure for this sale can be found here. Insiders sold a total of 97,374 shares of company stock valued at $19,459,527 in the last three months. Company insiders own 18.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DUOL shares. DA Davidson reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Duolingo in a research note on Tuesday, September 10th. Piper Sandler reaffirmed an “overweight” rating and set a $271.00 price target on shares of Duolingo in a research note on Friday, August 30th. Evercore ISI raised shares of Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. JMP Securities restated a “market outperform” rating and set a $260.00 target price on shares of Duolingo in a research report on Wednesday, July 10th. Finally, Wolfe Research began coverage on Duolingo in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.40.

Duolingo Trading Up 1.6 %

Shares of NASDAQ DUOL opened at $268.34 on Friday. Duolingo, Inc. has a fifty-two week low of $140.16 and a fifty-two week high of $270.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 276.64 and a beta of 0.76. The business’s 50 day moving average price is $198.82 and its 200-day moving average price is $204.06.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.19. The business had revenue of $178.30 million during the quarter, compared to the consensus estimate of $177.13 million. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. On average, sell-side analysts expect that Duolingo, Inc. will post 1.87 earnings per share for the current year.

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.