Duolingo, Inc. $DUOL Stock Holdings Increased by Jennison Associates LLC

Jennison Associates LLC lifted its stake in Duolingo, Inc. (NASDAQ:DUOL) by 171.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,234 shares of the company’s stock after purchasing an additional 2,674 shares during the quarter. Jennison Associates LLC’s holdings in Duolingo were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. New York Life Investment Management LLC lifted its position in shares of Duolingo by 0.7% in the second quarter. New York Life Investment Management LLC now owns 4,067 shares of the company’s stock worth $1,668,000 after purchasing an additional 30 shares in the last quarter. Equita Financial Network Inc. raised its position in Duolingo by 64.7% during the second quarter. Equita Financial Network Inc. now owns 1,341 shares of the company’s stock valued at $550,000 after acquiring an additional 527 shares in the last quarter. Teacher Retirement System of Texas raised its position in Duolingo by 27.3% during the second quarter. Teacher Retirement System of Texas now owns 10,604 shares of the company’s stock valued at $4,348,000 after acquiring an additional 2,274 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in Duolingo by 795.4% during the second quarter. Y Intercept Hong Kong Ltd now owns 24,238 shares of the company’s stock valued at $9,938,000 after acquiring an additional 21,531 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Duolingo by 780.7% during the second quarter. Bessemer Group Inc. now owns 731 shares of the company’s stock valued at $299,000 after acquiring an additional 648 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DUOL shares. Zacks Research lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. JMP Securities cut their price objective on shares of Duolingo from $475.00 to $450.00 and set a “market outperform” rating on the stock in a research report on Monday, July 28th. Citizens Jmp cut their price objective on shares of Duolingo from $475.00 to $450.00 and set a “mkt outperform” rating on the stock in a research report on Monday, July 28th. Baird R W raised shares of Duolingo to a “hold” rating in a research report on Friday, September 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $460.00 price objective on shares of Duolingo in a research report on Wednesday, September 17th. Twelve investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Duolingo presently has an average rating of “Hold” and an average price target of $414.05.

Duolingo Trading Up 3.0%

Shares of DUOL stock opened at $270.64 on Friday. Duolingo, Inc. has a 12 month low of $256.63 and a 12 month high of $544.93. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $305.64 and its two-hundred day moving average is $380.07. The company has a market cap of $12.40 billion, a PE ratio of 111.37, a price-to-earnings-growth ratio of 1.78 and a beta of 0.86.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.55 by $0.36. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.The company had revenue of $252.27 million for the quarter, compared to the consensus estimate of $240.84 million. During the same quarter last year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. Equities analysts predict that Duolingo, Inc. will post 2.03 EPS for the current year.

Insiders Place Their Bets

In other news, insider Natalie Glance sold 3,283 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $312.30, for a total value of $1,025,280.90. Following the sale, the insider owned 116,171 shares in the company, valued at approximately $36,280,203.30. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Skaruppa sold 10,937 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $317.39, for a total transaction of $3,471,294.43. Following the completion of the sale, the chief financial officer owned 43,345 shares in the company, valued at approximately $13,757,269.55. The trade was a 20.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 83,791 shares of company stock valued at $26,462,201 in the last 90 days. 15.67% of the stock is currently owned by corporate insiders.

About Duolingo

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.