First Citizens Bank & Trust Co. Purchases Shares of 1,506 Duolingo, Inc. $DUOL

First Citizens Bank & Trust Co. purchased a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL) in the 2nd quarter, Holdings Channel reports. The fund purchased 1,506 shares of the company’s stock, valued at approximately $617,000.

Other hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC lifted its holdings in Duolingo by 43.6% during the 1st quarter. Rise Advisors LLC now owns 79 shares of the company’s stock valued at $25,000 after purchasing an additional 24 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Duolingo during the 1st quarter valued at $28,000. Brooklyn Investment Group lifted its holdings in Duolingo by 4,750.0% during the 1st quarter. Brooklyn Investment Group now owns 97 shares of the company’s stock valued at $30,000 after purchasing an additional 95 shares during the last quarter. Kiker Wealth Management LLC acquired a new stake in shares of Duolingo during the second quarter worth $31,000. Finally, Whittier Trust Co. acquired a new stake in shares of Duolingo during the first quarter worth $33,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DUOL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Duolingo in a report on Friday. Citigroup dropped their target price on Duolingo from $400.00 to $375.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. DA Davidson downgraded Duolingo from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $500.00 to $300.00 in a report on Thursday, September 4th. UBS Group dropped their target price on Duolingo from $500.00 to $450.00 and set a “buy” rating for the company in a report on Monday, October 20th. Finally, Wells Fargo & Company assumed coverage on Duolingo in a research note on Monday, September 8th. They issued an “underweight” rating and a $239.00 price target for the company. Twelve research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Duolingo currently has a consensus rating of “Hold” and an average target price of $414.05.

Duolingo Stock Performance

Duolingo stock opened at $312.00 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 price is $312.02 and its two-hundred day moving average price is $381.37. The stock has a market cap of $14.30 billion, a PE ratio of 128.40, a P/E/G ratio of 2.05 and a beta of 0.86.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.36. The firm had revenue of $252.27 million for the quarter, compared to analysts’ expectations of $240.84 million. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.The business’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, analysts expect that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

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.