Sumitomo Mitsui DS Asset Management Company Ltd Has $2.15 Million Stock Position in Duolingo, Inc. (NASDAQ:DUOL)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,621 shares of the company’s stock after selling 876 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Duolingo were worth $2,147,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DUOL. Bleakley Financial Group LLC increased its position in Duolingo by 6.1% during the fourth quarter. Bleakley Financial Group LLC now owns 995 shares of the company’s stock worth $323,000 after acquiring an additional 57 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Duolingo in the 4th quarter worth $31,000. WT Asset Management Ltd bought a new position in shares of Duolingo during the 4th quarter worth about $20,264,000. Retirement Systems of Alabama raised its position in shares of Duolingo by 1.3% during the fourth quarter. Retirement Systems of Alabama now owns 46,080 shares of the company’s stock valued at $14,941,000 after buying an additional 602 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA lifted its stake in shares of Duolingo by 204.9% in the fourth quarter. Beach Investment Counsel Inc. PA now owns 6,352 shares of the company’s stock valued at $2,060,000 after buying an additional 4,269 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 4,464 shares of Duolingo stock in a transaction on Monday, January 13th. The stock was sold at an average price of $313.55, for a total value of $1,399,687.20. Following the completion of the transaction, the chief financial officer now owns 63,266 shares in the company, valued at approximately $19,837,054.30. The trade was a 6.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $369.33, for a total value of $553,995.00. Following the sale, the insider now owns 132,239 shares in the company, valued at $48,839,829.87. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 289,624 shares of company stock valued at $98,478,298 in the last three months. 18.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays boosted their price target on Duolingo from $183.00 to $295.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Needham & Company LLC upped their target price on Duolingo from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Piper Sandler lifted their price target on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Duolingo in a research note on Friday, January 24th. They issued a “hold” rating and a $370.00 price objective for the company. Finally, DA Davidson raised their price objective on shares of Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $355.55.

Duolingo Price Performance

Shares of Duolingo stock opened at $401.45 on Tuesday. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 219.37 and a beta of 0.89. The firm’s 50-day moving average price is $346.02 and its two-hundred day moving average price is $289.40. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $411.69.

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.