Retirement Systems of Alabama Acquires Shares of 45,653 Duolingo, Inc. (NASDAQ:DUOL)

Retirement Systems of Alabama bought a new position in Duolingo, Inc. (NASDAQ:DUOL) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 45,653 shares of the company’s stock, valued at approximately $9,526,000. Retirement Systems of Alabama owned about 0.11% of Duolingo as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DUOL. Discovery Value Fund purchased a new stake in Duolingo during the fourth quarter valued at approximately $27,000. Blue Trust Inc. purchased a new position in Duolingo during the second quarter worth $32,000. GAMMA Investing LLC increased its position in Duolingo by 350.0% during the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $36,000 after acquiring an additional 133 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Duolingo in the second quarter valued at $40,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Duolingo in the 4th quarter worth about $73,000. Institutional investors own 91.59% of the company’s stock.

Duolingo Trading Up 1.9 %

Shares of NASDAQ DUOL opened at $212.57 on Friday. Duolingo, Inc. has a twelve month low of $130.90 and a twelve month high of $251.30. The firm has a market cap of $9.17 billion, a PE ratio of 219.14 and a beta of 0.72. The business has a fifty day simple moving average of $189.59 and a two-hundred day simple moving average of $199.92. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.08.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.19. Duolingo had a return on equity of 7.08% and a net margin of 7.82%. The firm had revenue of $178.30 million during the quarter, compared to the consensus estimate of $177.13 million. During the same period in the previous year, the company posted $0.08 earnings per share. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. Analysts expect that Duolingo, Inc. will post 1.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DUOL shares. Evercore ISI upgraded shares of Duolingo to a “strong-buy” rating in a report on Monday, August 5th. DA Davidson initiated coverage on Duolingo in a research note on Thursday, June 13th. They set a “buy” rating and a $250.00 target price on the stock. Bank of America upgraded Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 price target on the stock in a report on Friday, July 26th. Wolfe Research began coverage on Duolingo in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Needham & Company LLC reduced their target price on Duolingo from $267.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $237.40.

Insider Activity

In other news, insider Severin Hacker sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $198.61, for a total transaction of $1,986,100.00. Following the transaction, the insider now directly owns 72 shares in the company, valued at $14,299.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $198.61, for a total value of $1,986,100.00. Following the completion of the transaction, the insider now directly owns 72 shares of the company’s stock, valued at approximately $14,299.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $193.53, for a total value of $290,295.00. Following the sale, the insider now directly owns 147,282 shares in the company, valued at approximately $28,503,485.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,091 shares of company stock worth $11,260,132. 18.30% 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.