Hidden Lake Asset Management LP Takes Position in Duolingo, Inc. $DUOL

Hidden Lake Asset Management LP acquired a new position in Duolingo, Inc. (NASDAQ:DUOL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,456 shares of the company’s stock, valued at approximately $9,480,000. Duolingo comprises about 1.2% of Hidden Lake Asset Management LP’s portfolio, making the stock its 11th biggest position. Hidden Lake Asset Management LP owned about 0.06% of Duolingo as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Duolingo by 3.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 940 shares of the company’s stock worth $385,000 after purchasing an additional 32 shares in the last quarter. Evergreen Capital Management LLC grew its stake in Duolingo by 5.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 818 shares of the company’s stock valued at $335,000 after buying an additional 39 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in Duolingo by 22.2% during the 3rd quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 220 shares of the company’s stock valued at $71,000 after acquiring an additional 40 shares during the period. Farther Finance Advisors LLC raised its holdings in Duolingo by 82.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 133 shares of the company’s stock valued at $43,000 after acquiring an additional 60 shares during the period. Finally, Smithfield Trust Co lifted its position in shares of Duolingo by 35.4% during the third quarter. Smithfield Trust Co now owns 237 shares of the company’s stock worth $76,000 after acquiring an additional 62 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on DUOL. Bank of America reiterated a “neutral” rating and set a $100.00 price objective on shares of Duolingo in a research note on Friday, February 27th. Morgan Stanley restated an “equal weight” rating and issued a $100.00 price objective (down from $245.00) on shares of Duolingo in a research report on Friday, February 27th. BMO Capital Markets raised shares of Duolingo to a “buy” rating in a report on Monday, January 12th. Scotiabank reissued a “sector perform” rating and issued a $100.00 price target (down from $300.00) on shares of Duolingo in a report on Friday, February 27th. Finally, UBS Group set a $245.00 price target on shares of Duolingo in a report on Monday, January 5th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $206.32.

Duolingo Trading Up 3.7%

Shares of DUOL opened at $98.39 on Monday. Duolingo, Inc. has a 1-year low of $91.99 and a 1-year high of $544.93. The company has a market capitalization of $4.55 billion, a P/E ratio of 11.55, a P/E/G ratio of 0.69 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.61 and a quick ratio of 2.61. The firm’s 50 day simple moving average is $128.43 and its 200 day simple moving average is $206.57.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. The business had revenue of $282.87 million during the quarter, compared to analysts’ expectations of $275.95 million. Duolingo had a net margin of 39.91% and a return on equity of 14.88%. The company’s quarterly revenue was up 35.0% on a year-over-year basis. Sell-side analysts forecast that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Meese sold 1,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $110.06, for a total value of $110,060.00. Following the transaction, the insider owned 122,636 shares of the company’s stock, valued at $13,497,318.16. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stephen C. Chen sold 1,901 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $113.26, for a total value of $215,307.26. Following the sale, the general counsel owned 30,545 shares in the company, valued at $3,459,526.70. The trade was a 5.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,939 shares of company stock valued at $1,676,291 in the last three months. 18.30% of the stock is owned by corporate insiders.

Duolingo Profile

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.