Raymond James Financial Inc. Takes $6.68 Million Position in Duolingo, Inc. (NASDAQ:DUOL)

Raymond James Financial Inc. purchased a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,594 shares of the company’s stock, valued at approximately $6,677,000.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in shares of Duolingo during the 3rd quarter valued at $26,000. First Horizon Advisors Inc. bought a new stake in shares of Duolingo during the 3rd quarter valued at $29,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Duolingo during the 4th quarter valued at $31,000. Global Retirement Partners LLC raised its stake in shares of Duolingo by 1,255.6% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock valued at $40,000 after purchasing an additional 113 shares during the period. Finally, Smithfield Trust Co raised its stake in shares of Duolingo by 41.8% during the 4th quarter. Smithfield Trust Co now owns 156 shares of the company’s stock valued at $51,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Insider Activity at Duolingo

In related news, CEO Ahn Luis Von sold 8,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $321.00, for a total transaction of $2,568,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Skaruppa sold 5,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $324.48, for a total value of $1,622,400.00. Following the sale, the chief financial officer now owns 67,730 shares of the company’s stock, valued at $21,977,030.40. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,499 shares of company stock worth $32,677,268 in the last ninety days. 18.30% of the stock is owned by company insiders.

Duolingo Price Performance

DUOL opened at $309.30 on Monday. The stock has a 50-day moving average price of $347.58 and a 200-day moving average price of $320.47. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $441.77. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $13.99 billion, a P/E ratio of 169.02 and a beta of 0.92.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.19). The company had revenue of $209.55 million for the quarter, compared to analysts’ expectations of $205.49 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. Equities analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DUOL. Jefferies Financial Group began coverage on Duolingo in a research note on Friday, January 24th. They set a “hold” rating and a $370.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Duolingo from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. JMP Securities reiterated a “market perform” rating on shares of Duolingo in a research note on Friday, February 14th. UBS Group set a $400.00 target price on Duolingo in a research note on Tuesday, March 18th. Finally, Citizens Jmp upgraded Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a research note on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Duolingo presently has an average rating of “Moderate Buy” and a consensus price target of $376.25.

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.