21,700 Shares in Duolingo, Inc. $DUOL Bought by Audent Global Asset Management LLC

Audent Global Asset Management LLC purchased a new position in shares of Duolingo, Inc. (NASDAQ:DUOL) in the first quarter, HoldingsChannel reports. The fund purchased 21,700 shares of the company’s stock, valued at approximately $2,139,000. Duolingo comprises 2.2% of Audent Global Asset Management LLC’s portfolio, making the stock its 18th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in Duolingo by 71.9% during the fourth quarter. Baillie Gifford & Co. now owns 4,861,445 shares of the company’s stock valued at $853,184,000 after acquiring an additional 2,033,611 shares in the last quarter. State of Michigan Retirement System raised its position in Duolingo by 112.9% during the first quarter. State of Michigan Retirement System now owns 1,193,307 shares of the company’s stock worth $117,624,000 after acquiring an additional 632,807 shares during the period. FIL Ltd increased its stake in Duolingo by 1,715,575.9% during the 4th quarter. FIL Ltd now owns 497,546 shares of the company’s stock worth $87,319,000 after buying an additional 497,517 shares in the last quarter. Norges Bank purchased a new position in shares of Duolingo in the fourth quarter worth about $86,159,000. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Duolingo by 22,970.4% in the third quarter. Balyasny Asset Management L.P. now owns 415,268 shares of the company’s stock valued at $133,650,000 after purchasing an additional 413,468 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DUOL has been the topic of several recent analyst reports. Zacks Research upgraded shares of Duolingo from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Evercore set a $97.00 target price on shares of Duolingo in a research note on Tuesday, May 5th. Morgan Stanley upped their price target on Duolingo from $95.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday. UBS Group reaffirmed a “neutral” rating on shares of Duolingo in a research report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Duolingo from $94.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday. Two analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.17.

Insiders Place Their Bets

In other Duolingo news, insider Natalie Glance sold 3,360 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $113.59, for a total value of $381,662.40. Following the completion of the transaction, the insider directly owned 173,401 shares of the company’s stock, valued at $19,696,619.59. This represents a 1.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Stephen C. Chen sold 1,977 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $113.61, for a total value of $224,606.97. Following the sale, the general counsel owned 52,807 shares of the company’s stock, valued at approximately $5,999,403.27. This trade represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 9,506 shares of company stock worth $1,073,864 in the last quarter. 16.62% of the stock is owned by corporate insiders.

Duolingo Stock Performance

NASDAQ DUOL opened at $133.85 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.62 and a quick ratio of 2.62. The firm has a market capitalization of $6.24 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.00 and a beta of 0.88. The business’s 50-day simple moving average is $118.95 and its 200-day simple moving average is $119.29. Duolingo, Inc. has a 1-year low of $87.89 and a 1-year high of $468.00.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $291.97 million during the quarter, compared to analysts’ expectations of $288.60 million. Duolingo had a net margin of 38.44% and a return on equity of 14.07%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. Equities analysts predict that Duolingo, Inc. will post 2.76 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.