TD Asset Management Inc Sells 46,577 Shares of Duolingo, Inc. $DUOL

TD Asset Management Inc trimmed its stake in Duolingo, Inc. (NASDAQ:DUOL) by 46.4% during the 4th quarter, Holdings Channel reports. The firm owned 53,730 shares of the company’s stock after selling 46,577 shares during the quarter. TD Asset Management Inc’s holdings in Duolingo were worth $9,430,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DUOL. NewEdge Advisors LLC boosted its stake in Duolingo by 1,868.2% in the first quarter. NewEdge Advisors LLC now owns 433 shares of the company’s stock worth $134,000 after buying an additional 411 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Duolingo by 123.9% in the first quarter. Goldman Sachs Group Inc. now owns 87,556 shares of the company’s stock worth $27,190,000 after buying an additional 48,451 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Duolingo by 28.3% during the first quarter. Focus Partners Wealth now owns 2,021 shares of the company’s stock valued at $628,000 after purchasing an additional 446 shares during the period. Amundi boosted its stake in shares of Duolingo by 142.1% during the second quarter. Amundi now owns 26,075 shares of the company’s stock valued at $10,352,000 after purchasing an additional 15,306 shares during the period. Finally, Gabelli Funds LLC purchased a new stake in shares of Duolingo during the second quarter valued at approximately $205,000. 91.59% of the stock is currently owned by institutional investors.

Duolingo Price Performance

NASDAQ DUOL opened at $117.86 on Wednesday. Duolingo, Inc. has a one year low of $87.89 and a one year high of $503.49. The stock has a 50-day moving average of $104.50 and a 200 day moving average of $130.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.62 and a current ratio of 2.62. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.89 and a beta of 0.89.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Duolingo had a net margin of 38.44% and a return on equity of 14.07%. The firm had revenue of $291.97 million for the quarter, compared to the consensus estimate of $288.60 million. During the same quarter last year, the firm posted $0.72 EPS. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, sell-side analysts forecast that Duolingo, Inc. will post 2.84 EPS for the current year.

Insider Buying and Selling

In other Duolingo news, General Counsel Stephen C. Chen sold 1,977 shares of Duolingo stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $113.61, for a total value of $224,606.97. Following the completion of the sale, the general counsel owned 52,807 shares of the company’s stock, valued at approximately $5,999,403.27. The trade was a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalie Glance sold 3,360 shares of Duolingo stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $113.59, for a total transaction of $381,662.40. Following the completion of the sale, the insider directly owned 173,401 shares of the company’s stock, valued at approximately $19,696,619.59. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 9,506 shares of company stock worth $1,073,864. 16.62% of the stock is owned by insiders.

Analyst Ratings Changes

DUOL has been the subject of a number of analyst reports. Barclays dropped their price objective on Duolingo from $230.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. DA Davidson raised their price target on Duolingo from $90.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday. Evercore set a $97.00 price target on Duolingo in a research note on Tuesday, May 5th. Argus reaffirmed a “hold” rating on shares of Duolingo in a research note on Wednesday, March 18th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $100.00 price target (down from $300.00) on shares of Duolingo in a research note on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $197.61.

Duolingo Company Profile

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.