Duolingo, Inc. (NASDAQ:DUOL) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC increased its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,642 shares of the company’s stock after purchasing an additional 4,062 shares during the period. Cerity Partners LLC’s holdings in Duolingo were worth $17,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Congress Asset Management Co. acquired a new position in shares of Duolingo during the 1st quarter worth about $15,430,000. Catalyst Capital Advisors LLC raised its position in shares of Duolingo by 12.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 6,925 shares of the company’s stock worth $2,150,000 after purchasing an additional 775 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Duolingo during the 4th quarter worth about $9,708,000. Janney Montgomery Scott LLC acquired a new position in shares of Duolingo during the 1st quarter worth about $282,000. Finally, Redwood Investment Management LLC acquired a new position in shares of Duolingo during the 4th quarter worth about $1,429,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Duolingo Stock Performance

NASDAQ:DUOL opened at $370.82 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $16.86 billion, a P/E ratio of 182.67, a PEG ratio of 2.85 and a beta of 0.89. The company has a 50 day moving average price of $474.93 and a 200 day moving average price of $388.90. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $544.93.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.20. The firm had revenue of $230.74 million during the quarter, compared to analysts’ expectations of $223.15 million. Duolingo had a net margin of 11.93% and a return on equity of 11.70%. The company’s revenue was up 37.6% compared to the same quarter last year. Equities research analysts forecast that Duolingo, Inc. will post 2.03 EPS for the current year.

Insider Buying and Selling

In related news, insider Robert Meese sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $367.65, for a total transaction of $3,676,500.00. Following the completion of the transaction, the insider owned 123,805 shares of the company’s stock, valued at approximately $45,516,908.25. This trade represents a 7.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ahn Luis Von sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $327.41, for a total transaction of $2,619,280.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,000 shares of company stock valued at $30,265,780. Company insiders own 15.67% of the company’s stock.

Analyst Ratings Changes

DUOL has been the subject of several research analyst reports. Scotiabank upped their price target on shares of Duolingo from $405.00 to $470.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 2nd. The Goldman Sachs Group increased their price objective on shares of Duolingo from $340.00 to $403.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Piper Sandler set a $375.00 price objective on shares of Duolingo in a report on Friday, May 2nd. Morgan Stanley cut their price objective on shares of Duolingo from $515.00 to $480.00 and set an “overweight” rating for the company in a report on Tuesday, July 8th. Finally, Citizens Jmp upgraded shares of Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 price objective for the company in a report on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $441.20.

About Duolingo

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.