Duolingo, Inc. $DUOL Stake Boosted by SteelPeak Wealth LLC

SteelPeak Wealth LLC grew its position in Duolingo, Inc. (NASDAQ:DUOL) by 33.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,002 shares of the company’s stock after purchasing an additional 6,000 shares during the period. SteelPeak Wealth LLC’s holdings in Duolingo were worth $2,366,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC grew its position in Duolingo by 1,868.2% during the 1st quarter. NewEdge Advisors LLC now owns 433 shares of the company’s stock worth $134,000 after purchasing an additional 411 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Duolingo by 123.9% in the first quarter. Goldman Sachs Group Inc. now owns 87,556 shares of the company’s stock worth $27,190,000 after buying an additional 48,451 shares during the period. Focus Partners Wealth grew its holdings in shares of Duolingo by 28.3% during the first quarter. Focus Partners Wealth now owns 2,021 shares of the company’s stock valued at $628,000 after buying an additional 446 shares in the last quarter. Amundi grew its holdings in shares of Duolingo by 142.1% during the second quarter. Amundi now owns 26,075 shares of the company’s stock valued at $10,352,000 after buying an additional 15,306 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new position in Duolingo during the second quarter valued at $205,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DUOL has been the subject of several research analyst reports. Wedbush initiated coverage on Duolingo in a research note on Thursday. They issued a “neutral” rating and a $139.00 price objective for the company. KeyCorp reiterated a “sector weight” rating on shares of Duolingo in a report on Thursday, June 4th. Morgan Stanley upped their target price on Duolingo from $95.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore set a $97.00 price target on shares of Duolingo in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Duolingo from $94.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $167.17.

Duolingo Stock Performance

Shares of NASDAQ DUOL opened at $133.85 on Friday. The business’s 50-day moving average price is $118.95 and its two-hundred day moving average price is $119.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.62 and a quick ratio of 2.62. Duolingo, Inc. has a one year low of $87.89 and a one year high of $468.00. The company has a market capitalization of $6.24 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.00 and a beta of 0.88.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Monday, May 4th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. Duolingo had a return on equity of 14.07% and a net margin of 38.44%.The company had revenue of $291.97 million for the quarter, compared to analyst estimates of $288.60 million. During the same period in the prior year, the firm posted $0.72 EPS. The business’s revenue was up 26.5% compared to the same quarter last year. Analysts anticipate that Duolingo, Inc. will post 2.76 earnings per share for the current fiscal year.

Insider Activity at Duolingo

In related news, General Counsel Stephen C. Chen sold 1,977 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $113.61, for a total transaction of $224,606.97. Following the transaction, the general counsel owned 52,807 shares of the company’s stock, valued at approximately $5,999,403.27. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Meese sold 1,420 shares of Duolingo stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $112.16, for a total transaction of $159,267.20. Following the completion of the sale, the insider owned 170,745 shares of the company’s stock, valued at $19,150,759.20. This trade represents a 0.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 9,506 shares of company stock valued at $1,073,864. 16.62% of the stock is owned by corporate insiders.

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.