6,300 Shares in Duolingo, Inc. $DUOL Acquired by South Dakota Investment Council

South Dakota Investment Council bought a new position in Duolingo, Inc. (NASDAQ:DUOL) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,300 shares of the company’s stock, valued at approximately $2,028,000.

A number of other hedge funds have also added to or reduced their stakes in DUOL. Atlantic Union Bankshares Corp purchased a new position in shares of Duolingo in the 3rd quarter worth $32,000. Farther Finance Advisors LLC boosted its position in Duolingo by 82.2% in the third quarter. Farther Finance Advisors LLC now owns 133 shares of the company’s stock worth $43,000 after purchasing an additional 60 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Duolingo by 8,900.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 180 shares of the company’s stock valued at $58,000 after purchasing an additional 178 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Duolingo by 103.0% in the third quarter. Huntington National Bank now owns 205 shares of the company’s stock worth $66,000 after buying an additional 104 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in Duolingo by 22.2% during the third quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 220 shares of the company’s stock valued at $71,000 after buying an additional 40 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Duolingo

In related news, General Counsel Stephen C. Chen sold 1,901 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $113.26, for a total value of $215,307.26. Following the completion of the sale, the general counsel directly owned 30,545 shares in the company, valued at $3,459,526.70. This trade represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Meese sold 1,000 shares of Duolingo stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $110.06, for a total transaction of $110,060.00. Following the transaction, the insider directly owned 122,636 shares of the company’s stock, valued at $13,497,318.16. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,939 shares of company stock worth $1,676,291 in the last ninety days. Corporate insiders own 15.67% of the company’s stock.

Wall Street Analysts Forecast Growth

DUOL has been the subject of a number of recent research reports. DA Davidson cut their price objective on shares of Duolingo from $170.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Barclays cut their price target on Duolingo from $230.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday. The Goldman Sachs Group lowered their price target on shares of Duolingo from $250.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday. Evercore reiterated a “hold” rating and issued a $114.00 price target on shares of Duolingo in a research note on Friday, February 27th. Finally, Truist Financial downgraded Duolingo from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Friday, February 27th. Five research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $206.32.

Duolingo Stock Performance

Duolingo stock opened at $96.17 on Thursday. The company’s 50-day moving average price is $139.55 and its 200-day moving average price is $219.04. The company has a quick ratio of 2.82, a current ratio of 2.61 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.45 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.70 and a beta of 0.90. Duolingo, Inc. has a twelve month low of $91.99 and a twelve month high of $544.93.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.12. The company had revenue of $282.87 million for the quarter, compared to analysts’ expectations of $275.95 million. Duolingo had a return on equity of 14.88% and a net margin of 39.91%.The firm’s revenue was up 35.0% compared to the same quarter last year. On average, equities research analysts forecast that Duolingo, Inc. will post 2.03 EPS for the current fiscal 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.