Magnetar Financial LLC Purchases Shares of 1,677 Duolingo, Inc. (NASDAQ:DUOL)

Magnetar Financial LLC purchased a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,677 shares of the company’s stock, valued at approximately $544,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its stake in Duolingo by 156.5% during the 4th quarter. Teacher Retirement System of Texas now owns 10,471 shares of the company’s stock valued at $3,395,000 after purchasing an additional 6,389 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Duolingo by 5,050.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock valued at $33,000 after purchasing an additional 101 shares during the last quarter. Xponance Inc. boosted its stake in Duolingo by 4.2% during the 4th quarter. Xponance Inc. now owns 7,580 shares of the company’s stock valued at $2,458,000 after purchasing an additional 305 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Duolingo by 1.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 8,917 shares of the company’s stock valued at $2,891,000 after purchasing an additional 122 shares during the last quarter. Finally, Kensington Investment Counsel LLC lifted its position in shares of Duolingo by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 5,633 shares of the company’s stock worth $1,826,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on DUOL shares. Piper Sandler lifted their target price on shares of Duolingo from $351.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. The Goldman Sachs Group lifted their target price on shares of Duolingo from $275.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. DA Davidson lifted their target price on shares of Duolingo from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. Finally, Barclays lifted their target price on shares of Duolingo from $295.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Duolingo currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.25.

Duolingo Stock Up 1.0 %

Duolingo stock opened at $309.30 on Friday. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $441.77. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of 169.02 and a beta of 0.92. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $347.58 and a 200 day simple moving average of $318.89.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business had revenue of $209.55 million during the quarter, compared to analysts’ expectations of $205.49 million. On average, analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current year.

Insider Activity at Duolingo

In other news, insider Natalie Glance sold 2,667 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total transaction of $1,160,891.76. Following the completion of the transaction, the insider now directly owns 129,572 shares in the company, valued at $56,400,100.16. The trade was a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $336.23, for a total transaction of $3,362,300.00. Following the transaction, the insider now owns 72 shares of the company’s stock, valued at $24,208.56. This trade represents a 99.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,499 shares of company stock worth $32,677,268. Corporate insiders own 18.30% of the company’s stock.

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.