Engineers Gate Manager LP Acquires 44,739 Shares of Duolingo, Inc. $DUOL

Engineers Gate Manager LP grew its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 163.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,071 shares of the company’s stock after acquiring an additional 44,739 shares during the quarter. Engineers Gate Manager LP owned 0.16% of Duolingo worth $29,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DUOL. Vanguard Group Inc. raised its stake in Duolingo by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,647,951 shares of the company’s stock valued at $1,495,733,000 after purchasing an additional 116,135 shares during the last quarter. State Street Corp grew its position in Duolingo by 0.5% in the 2nd quarter. State Street Corp now owns 1,164,387 shares of the company’s stock worth $477,422,000 after purchasing an additional 6,109 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Duolingo by 110.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company’s stock worth $307,716,000 after purchasing an additional 520,069 shares during the period. Geode Capital Management LLC raised its position in shares of Duolingo by 3.2% during the second quarter. Geode Capital Management LLC now owns 759,956 shares of the company’s stock valued at $311,930,000 after buying an additional 23,356 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Duolingo in the second quarter valued at about $192,965,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DUOL shares. Wells Fargo & Company lowered their price target on Duolingo from $239.00 to $185.00 and set an “underweight” rating on the stock in a research note on Thursday, November 6th. UBS Group lowered their price objective on Duolingo from $500.00 to $450.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Scotiabank cut their target price on Duolingo from $600.00 to $300.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 6th. Citizens Jmp downgraded shares of Duolingo from a “market outperform” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Robert W. Baird assumed coverage on shares of Duolingo in a report on Friday, September 5th. They issued a “neutral” rating and a $280.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $329.44.

Duolingo Trading Down 2.3%

Shares of DUOL opened at $196.28 on Friday. 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 has a market cap of $9.07 billion, a PE ratio of 24.88, a PEG ratio of 1.26 and a beta of 0.86. Duolingo, Inc. has a 1 year low of $166.27 and a 1 year high of $544.93. The stock has a 50 day simple moving average of $242.89 and a 200-day simple moving average of $327.42.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $5.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $5.23. Duolingo had a return on equity of 14.02% and a net margin of 40.03%.The firm had revenue of $271.71 million for the quarter, compared to analysts’ expectations of $260.14 million. During the same period in the prior year, the business posted $0.49 earnings per share. The business’s revenue was up 41.1% compared to the same quarter last year. On average, sell-side analysts predict that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Matthew Skaruppa sold 3,059 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $175.76, for a total transaction of $537,649.84. Following the completion of the sale, the chief financial officer owned 37,487 shares in the company, valued at $6,588,715.12. This trade represents a 7.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Stephen C. Chen sold 1,514 shares of Duolingo stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $175.87, for a total transaction of $266,267.18. Following the transaction, the general counsel directly owned 31,542 shares of the company’s stock, valued at $5,547,291.54. This represents a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 76,452 shares of company stock worth $18,736,132 in the last quarter. 15.67% of the stock is owned by corporate insiders.

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.