Sumitomo Mitsui DS Asset Management Company Ltd Sells 2,712 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 26.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,497 shares of the company’s stock after selling 2,712 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Duolingo were worth $2,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dragoneer Investment Group LLC bought a new stake in Duolingo in the second quarter worth approximately $204,768,000. Whale Rock Capital Management LLC increased its stake in shares of Duolingo by 23.9% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after acquiring an additional 245,599 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Duolingo by 153.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock valued at $82,450,000 after acquiring an additional 238,990 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Duolingo by 73.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after acquiring an additional 154,659 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in Duolingo in the first quarter worth $28,555,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Duolingo Price Performance

Shares of NASDAQ:DUOL opened at $288.06 on Tuesday. 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 $12.42 billion, a PE ratio of 296.97 and a beta of 0.79. The stock’s fifty day simple moving average is $245.16 and its two-hundred day simple moving average is $213.03. Duolingo, Inc. has a 1-year low of $140.16 and a 1-year high of $297.56.

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

Analysts Set New Price Targets

DUOL has been the topic of several research reports. UBS Group upped their price objective on shares of Duolingo from $225.00 to $355.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Evercore ISI upgraded Duolingo to a “strong-buy” rating in a report on Monday, August 5th. Bank of America boosted their price objective on Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. JMP Securities lowered Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. Finally, Piper Sandler reissued an “overweight” rating and issued a $271.00 price target on shares of Duolingo in a research report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.22.

Insider Transactions at Duolingo

In related news, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total transaction of $242,670.00. Following the completion of the sale, the insider now directly owns 144,282 shares of the company’s stock, valued at approximately $23,341,941.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, General Counsel Stephen C. Chen sold 19,464 shares of the 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 completion of the transaction, the general counsel now owns 35,558 shares in the company, valued at approximately $7,522,294.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total transaction of $242,670.00. Following the completion of the sale, the insider now directly owns 144,282 shares in the company, valued at approximately $23,341,941.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,374 shares of company stock worth $18,571,912 in the last 90 days. Insiders own 18.30% of the company’s stock.

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.