Peregrine Capital Management LLC Trims Stake in Duolingo, Inc. (NASDAQ:DUOL)

Peregrine Capital Management LLC cut its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,384 shares of the company’s stock after selling 25,361 shares during the period. Duolingo comprises about 1.1% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Peregrine Capital Management LLC owned approximately 0.27% of Duolingo worth $38,059,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of DUOL. FMR LLC increased its holdings in Duolingo by 26.9% in the 3rd quarter. FMR LLC now owns 2,663,234 shares of the company’s stock worth $751,085,000 after acquiring an additional 564,173 shares in the last quarter. International Assets Investment Management LLC increased its stake in Duolingo by 30,909.9% in the 3rd quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock worth $100,135,000 after buying an additional 353,918 shares in the last quarter. Spyglass Capital Management LLC bought a new stake in Duolingo during the third quarter valued at about $38,512,000. Charles Schwab Investment Management Inc. grew its position in shares of Duolingo by 42.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company’s stock worth $96,530,000 after purchasing an additional 101,653 shares in the last quarter. Finally, Bamco Inc. NY purchased a new stake in shares of Duolingo during the third quarter worth about $25,808,000. Institutional investors own 91.59% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ahn Luis Von sold 41,759 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $340.29, for a total value of $14,210,170.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $369.33, for a total value of $553,995.00. Following the sale, the insider now owns 132,239 shares of the company’s stock, valued at $48,839,829.87. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 289,624 shares of company stock valued at $98,478,298 over the last quarter. 18.30% of the stock is owned by corporate insiders.

Duolingo Price Performance

Duolingo stock opened at $432.69 on Tuesday. The stock has a market cap of $19.03 billion, a price-to-earnings ratio of 236.44 and a beta of 0.89. The firm has a 50-day moving average of $351.02 and a two-hundred day moving average of $298.06. Duolingo, Inc. has a 1 year low of $145.05 and a 1 year high of $436.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DUOL shares. Piper Sandler increased their price objective on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Barclays boosted their price target on shares of Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Scotiabank started coverage on Duolingo in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $425.00 price target for the company. JMP Securities reaffirmed a “market perform” rating on shares of Duolingo in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Duolingo presently has an average rating of “Moderate Buy” and an average price target of $355.55.

Duolingo Company 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.