Driehaus Capital Management LLC Acquires 12,666 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Driehaus Capital Management LLC lifted its stake in Duolingo, Inc. (NASDAQ:DUOL) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 287,210 shares of the company’s stock after buying an additional 12,666 shares during the period. Driehaus Capital Management LLC owned approximately 0.67% of Duolingo worth $59,932,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. 9258 Wealth Management LLC lifted its position in shares of Duolingo by 4.4% during the 4th quarter. 9258 Wealth Management LLC now owns 1,529 shares of the company’s stock valued at $347,000 after acquiring an additional 65 shares during the period. UBS Group AG raised its position in Duolingo by 76.4% during the fourth quarter. UBS Group AG now owns 35,563 shares of the company’s stock valued at $8,067,000 after purchasing an additional 15,404 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Duolingo by 10.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 11,142 shares of the company’s stock worth $2,528,000 after buying an additional 1,085 shares during the last quarter. Fiduciary Trust Co bought a new position in shares of Duolingo in the fourth quarter worth about $227,000. Finally, Alpha DNA Investment Management LLC acquired a new stake in shares of Duolingo in the 4th quarter valued at approximately $538,000. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DUOL. Barclays lowered their price objective on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Duolingo from $255.00 to $303.00 and gave the company an “overweight” rating in a report on Wednesday. DA Davidson reaffirmed a “buy” rating and issued a $250.00 target price on shares of Duolingo in a report on Tuesday, September 10th. Piper Sandler reiterated an “overweight” rating and issued a $271.00 target price on shares of Duolingo in a research report on Friday, August 30th. Finally, Wolfe Research assumed coverage on shares of Duolingo in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.50.

Insider Buying and Selling at Duolingo

In other Duolingo news, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $198.61, for a total transaction of $1,986,100.00. Following the completion of the transaction, the insider now owns 72 shares in the company, valued at approximately $14,299.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Stephen C. Chen sold 19,464 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were 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 $7,522,294.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was 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 owns 72 shares in the company, valued at approximately $14,299.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,374 shares of company stock valued at $22,019,727. Corporate insiders own 18.30% of the company’s stock.

Duolingo Trading Up 0.0 %

NASDAQ DUOL opened at $278.03 on Friday. The stock has a market capitalization of $11.99 billion, a P/E ratio of 286.63 and a beta of 0.76. Duolingo, Inc. has a one year low of $140.16 and a one year high of $297.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28. The business has a 50 day simple moving average of $208.21 and a 200 day simple moving average of $206.23.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share 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 for the quarter, compared to the consensus estimate of $177.13 million. During the same period in the prior year, the business earned $0.08 EPS. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. Research analysts expect that Duolingo, Inc. will post 1.87 earnings per share for the current year.

About Duolingo

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.