Duolingo, Inc. $DUOL Shares Purchased by Equita Financial Network Inc.

Equita Financial Network Inc. increased its position in Duolingo, Inc. (NASDAQ:DUOL) by 64.7% in the second quarter, HoldingsChannel.com reports. The fund owned 1,341 shares of the company’s stock after buying an additional 527 shares during the period. Equita Financial Network Inc.’s holdings in Duolingo were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its holdings in shares of Duolingo by 27.3% in the second quarter. Teacher Retirement System of Texas now owns 10,604 shares of the company’s stock valued at $4,348,000 after purchasing an additional 2,274 shares during the period. Y Intercept Hong Kong Ltd boosted its position in Duolingo by 795.4% in the second quarter. Y Intercept Hong Kong Ltd now owns 24,238 shares of the company’s stock valued at $9,938,000 after buying an additional 21,531 shares during the last quarter. Bessemer Group Inc. increased its holdings in Duolingo by 780.7% in the 2nd quarter. Bessemer Group Inc. now owns 731 shares of the company’s stock worth $299,000 after buying an additional 648 shares during the period. Nisa Investment Advisors LLC raised its position in Duolingo by 328.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 883 shares of the company’s stock worth $362,000 after buying an additional 677 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Duolingo during the 2nd quarter worth approximately $437,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Stephen C. Chen sold 1,515 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $321.36, for a total transaction of $486,860.40. Following the completion of the transaction, the general counsel directly owned 32,638 shares of the company’s stock, valued at $10,488,547.68. This represents a 4.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Meese sold 1,444 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $329.03, for a total value of $475,119.32. Following the transaction, the insider owned 120,080 shares in the company, valued at $39,509,922.40. This trade represents a 1.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,791 shares of company stock valued at $26,462,201. 18.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DUOL has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Duolingo from $480.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. KeyCorp raised shares of Duolingo from a “sector weight” rating to an “overweight” rating and set a $460.00 price target on the stock in a report on Monday, August 18th. Zacks Research lowered Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. DA Davidson cut Duolingo from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $500.00 to $300.00 in a report on Thursday, September 4th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Duolingo in a report on Tuesday, August 26th. Twelve investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $414.05.

Duolingo Trading Down 1.7%

DUOL stock opened at $306.73 on Tuesday. The company’s 50-day simple moving average is $310.77 and its 200-day simple moving average is $381.46. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10. Duolingo, Inc. has a 52-week low of $256.63 and a 52-week high of $544.93. The firm has a market cap of $14.05 billion, a P/E ratio of 126.23, a PEG ratio of 2.05 and a beta of 0.86.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.36. The firm had revenue of $252.27 million during the quarter, compared to analyst estimates of $240.84 million. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.Duolingo’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, equities analysts forecast that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

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.