Earned Wealth Advisors LLC Takes Position in Duolingo, Inc. $DUOL

Earned Wealth Advisors LLC purchased a new stake in Duolingo, Inc. (NASDAQ:DUOL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 580 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds have also made changes to their positions in the company. Strs Ohio increased its position in shares of Duolingo by 532.8% in the second quarter. Strs Ohio now owns 15,086 shares of the company’s stock valued at $6,186,000 after buying an additional 12,702 shares in the last quarter. Amalgamated Bank increased its position in shares of Duolingo by 3.6% in the second quarter. Amalgamated Bank now owns 18,800 shares of the company’s stock valued at $7,708,000 after buying an additional 659 shares in the last quarter. Atria Investments Inc increased its position in shares of Duolingo by 5.7% in the second quarter. Atria Investments Inc now owns 929 shares of the company’s stock valued at $381,000 after buying an additional 50 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Duolingo by 4.0% in the second quarter. Retirement Systems of Alabama now owns 47,985 shares of the company’s stock valued at $19,675,000 after buying an additional 1,860 shares in the last quarter. Finally, Assetmark Inc. increased its position in Duolingo by 7.0% during the 2nd quarter. Assetmark Inc. now owns 2,884 shares of the company’s stock worth $1,182,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

DUOL has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on Duolingo from $515.00 to $465.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. Baird R W upgraded Duolingo to a “hold” rating in a research report on Friday, September 5th. Needham & Company LLC reiterated a “buy” rating and set a $460.00 price objective on shares of Duolingo in a research report on Wednesday, September 17th. JMP Securities dropped their price objective on Duolingo from $475.00 to $450.00 and set a “market outperform” rating for the company in a research report on Monday, July 28th. Finally, Morgan Stanley lifted their price objective on Duolingo from $480.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Twelve research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $414.05.

Insider Activity

In other news, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $344.56, for a total value of $3,445,600.00. Following the transaction, the insider directly owned 72 shares of the company’s stock, valued at $24,808.32. The trade was a 99.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Matthew Skaruppa sold 10,937 shares of Duolingo stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $317.39, for a total value of $3,471,294.43. Following the completion of the transaction, the chief financial officer directly owned 43,345 shares in the company, valued at $13,757,269.55. This represents a 20.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 83,791 shares of company stock valued at $26,462,201 in the last three months. Corporate insiders own 15.67% of the company’s stock.

Duolingo Stock Up 3.0%

Shares of NASDAQ:DUOL opened at $270.64 on Friday. The stock’s 50-day moving average price is $305.64 and its two-hundred day moving average price is $379.69. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.10. Duolingo, Inc. has a 12-month low of $256.63 and a 12-month high of $544.93. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 111.37, a PEG ratio of 1.73 and a beta of 0.86.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.36. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.The firm had revenue of $252.27 million for the quarter, compared to analyst estimates of $240.84 million. During the same period last year, the company earned $0.51 EPS. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. On average, research analysts forecast that Duolingo, Inc. will post 2.03 EPS for the current year.

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.