The Manufacturers Life Insurance Company Acquires 12,872 Shares of Duolingo, Inc. (NASDAQ:DUOL)

The Manufacturers Life Insurance Company boosted its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 68.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,557 shares of the company’s stock after acquiring an additional 12,872 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Duolingo worth $6,585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DUOL. Mark Asset Management LP raised its stake in Duolingo by 263.3% in the second quarter. Mark Asset Management LP now owns 90,755 shares of the company’s stock valued at $18,938,000 after purchasing an additional 65,771 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Duolingo during the 2nd quarter valued at $204,768,000. AQR Capital Management LLC lifted its holdings in shares of Duolingo by 162.3% during the 2nd quarter. AQR Capital Management LLC now owns 103,775 shares of the company’s stock worth $21,655,000 after acquiring an additional 64,217 shares during the last quarter. Fred Alger Management LLC purchased a new position in Duolingo in the second quarter worth $2,070,000. Finally, Xponance Inc. increased its stake in Duolingo by 308.4% in the second quarter. Xponance Inc. now owns 7,352 shares of the company’s stock valued at $1,534,000 after acquiring an additional 5,552 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Duolingo Stock Down 0.1 %

NASDAQ DUOL opened at $283.49 on Friday. The business’s 50-day moving average is $219.28 and its 200 day moving average is $208.31. The stock has a market capitalization of $12.22 billion, a PE ratio of 292.26 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28. Duolingo, Inc. has a 1 year low of $140.16 and a 1 year high of $297.56.

Duolingo (NASDAQ:DUOL) last posted its earnings results 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. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The firm had revenue of $178.30 million for the quarter, compared to analysts’ expectations of $177.13 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The business’s revenue was up 40.6% compared to the same quarter last year. Sell-side analysts forecast that Duolingo, Inc. will post 1.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Robert Meese sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total value of $1,425,200.00. Following the completion of the transaction, the insider now owns 142,053 shares in the company, valued at $40,490,787.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel Stephen C. Chen sold 19,464 shares of Duolingo stock in a transaction that occurred on 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 completion of the transaction, the general counsel now directly owns 35,558 shares in the company, valued at approximately $7,522,294.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Meese sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total value of $1,425,200.00. Following the completion of the sale, the insider now directly owns 142,053 shares in the company, valued at approximately $40,490,787.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,374 shares of company stock worth $18,444,907. Company insiders own 18.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Needham & Company LLC upped their price objective on Duolingo from $245.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. JMP Securities upped their target price on Duolingo from $260.00 to $275.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. DA Davidson reissued a “buy” rating and set a $250.00 price target on shares of Duolingo in a research note on Tuesday, September 10th. Evercore ISI raised shares of Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Barclays lowered their price target on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.50.

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.