Hidden Lake Asset Management LP Makes New $9.48 Million Investment in Duolingo, Inc. $DUOL

Hidden Lake Asset Management LP purchased a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 29,456 shares of the company’s stock, valued at approximately $9,480,000. Duolingo comprises 1.2% of Hidden Lake Asset Management LP’s portfolio, making the stock its 11th largest position.

Other hedge funds have also recently made changes to their positions in the company. Holocene Advisors LP purchased a new stake in shares of Duolingo in the 3rd quarter valued at $20,137,000. Focus Partners Wealth raised its position in Duolingo by 79.1% in the 3rd quarter. Focus Partners Wealth now owns 4,550 shares of the company’s stock worth $1,452,000 after purchasing an additional 2,010 shares during the period. Dragoneer Investment Group LLC lifted its stake in Duolingo by 324.4% in the third quarter. Dragoneer Investment Group LLC now owns 1,580,787 shares of the company’s stock worth $508,760,000 after purchasing an additional 1,208,346 shares during the last quarter. EFG Asset Management Americas Corp. lifted its stake in Duolingo by 49.4% in the third quarter. EFG Asset Management Americas Corp. now owns 4,831 shares of the company’s stock worth $1,555,000 after purchasing an additional 1,598 shares during the last quarter. Finally, Consolidated Press International Holdings Ltd. boosted its position in Duolingo by 29.2% during the third quarter. Consolidated Press International Holdings Ltd. now owns 14,885 shares of the company’s stock valued at $4,791,000 after buying an additional 3,360 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DUOL. Morgan Stanley reaffirmed an “equal weight” rating and set a $100.00 price objective (down from $245.00) on shares of Duolingo in a research note on Friday, February 27th. DA Davidson reduced their price target on Duolingo from $170.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. UBS Group set a $245.00 price objective on Duolingo in a research report on Monday, January 5th. Barclays cut their target price on shares of Duolingo from $230.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $100.00 target price (down from $300.00) on shares of Duolingo in a research note on Friday, February 27th. Five analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $206.32.

Insider Activity at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 3,986 shares of Duolingo stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $113.52, for a total transaction of $452,490.72. Following the sale, the chief financial officer directly owned 31,631 shares of the company’s stock, valued at approximately $3,590,751.12. The trade was a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James H. Shelton bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was purchased at an average cost of $99.76 per share, with a total value of $498,800.00. Following the transaction, the director directly owned 9,632 shares in the company, valued at approximately $960,888.32. This represents a 107.94% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 14,939 shares of company stock valued at $1,676,291 over the last three months. Corporate insiders own 18.30% of the company’s stock.

Duolingo Stock Performance

NASDAQ:DUOL opened at $98.39 on Monday. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $128.43 and its 200 day simple moving average is $206.57. The stock has a market cap of $4.55 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 0.69 and a beta of 0.90. Duolingo, Inc. has a twelve month low of $91.99 and a twelve month high of $544.93.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.79 by $0.12. Duolingo had a net margin of 39.91% and a return on equity of 14.88%. The business had revenue of $282.87 million during the quarter, compared to analyst estimates of $275.95 million. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. As a group, research analysts predict that Duolingo, Inc. will post 2.03 EPS for the current year.

Duolingo Company Profile

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.