Mirae Asset Global Investments Co. Ltd. Trims Stock Holdings in Duolingo, Inc. $DUOL

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 91.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 575 shares of the company’s stock after selling 6,307 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Duolingo were worth $185,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DUOL. NewEdge Advisors LLC grew its position in shares of Duolingo by 1,868.2% during the first quarter. NewEdge Advisors LLC now owns 433 shares of the company’s stock worth $134,000 after buying an additional 411 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Duolingo by 123.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,556 shares of the company’s stock valued at $27,190,000 after acquiring an additional 48,451 shares during the last quarter. Focus Partners Wealth grew its holdings in Duolingo by 28.3% during the 1st quarter. Focus Partners Wealth now owns 2,021 shares of the company’s stock worth $628,000 after acquiring an additional 446 shares in the last quarter. Truist Financial Corp increased its position in shares of Duolingo by 49.1% in the 2nd quarter. Truist Financial Corp now owns 4,487 shares of the company’s stock worth $1,840,000 after purchasing an additional 1,477 shares during the last quarter. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Duolingo in the 2nd quarter valued at about $466,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Duolingo

In other Duolingo news, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $172.74, for a total transaction of $1,727,400.00. Following the completion of the transaction, the insider directly owned 72 shares of the company’s stock, valued at $12,437.28. The trade was a 99.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Stephen C. Chen sold 1,514 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $175.87, for a total transaction of $266,267.18. Following the completion of the transaction, the general counsel owned 31,542 shares of the company’s stock, valued at approximately $5,547,291.54. This trade represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 33,169 shares of company stock valued at $5,826,651. Company insiders own 15.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DUOL. BMO Capital Markets raised shares of Duolingo to a “buy” rating in a research report on Monday, January 12th. Truist Financial set a $245.00 target price on Duolingo in a report on Thursday, January 15th. KeyCorp lowered Duolingo from an “overweight” rating to a “sector weight” rating in a research report on Thursday, November 6th. Scotiabank dropped their price target on Duolingo from $600.00 to $300.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group decreased their price objective on shares of Duolingo from $425.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Twelve equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $300.25.

Duolingo Trading Up 4.4%

Shares of NASDAQ DUOL opened at $119.40 on Friday. Duolingo, Inc. has a 12-month low of $112.41 and a 12-month high of $544.93. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.61 and a beta of 0.86. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.07. The stock’s 50 day simple moving average is $168.45 and its 200 day simple moving average is $249.52.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $5.95 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $5.23. The firm had revenue of $271.71 million during the quarter, compared to the consensus estimate of $260.14 million. Duolingo had a return on equity of 14.02% and a net margin of 40.03%.The firm’s revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. Equities research analysts expect that Duolingo, Inc. will post 2.03 EPS for the current year.

About Duolingo

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.