Headlands Technologies LLC Has $2.47 Million Stock Position in Duolingo, Inc. $DUOL

Headlands Technologies LLC lowered its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 18.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,452 shares of the company’s stock after selling 4,804 shares during the period. Headlands Technologies LLC’s holdings in Duolingo were worth $2,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bank of America Corp DE raised its stake in Duolingo by 511.2% in the first quarter. Bank of America Corp DE now owns 1,332,301 shares of the company’s stock valued at $131,325,000 after purchasing an additional 1,114,315 shares in the last quarter. State of Michigan Retirement System lifted its position in Duolingo by 112.9% during the first quarter. State of Michigan Retirement System now owns 1,193,307 shares of the company’s stock worth $117,624,000 after purchasing an additional 632,807 shares during the period. FIL Ltd grew its stake in Duolingo by 1,715,575.9% during the fourth quarter. FIL Ltd now owns 497,546 shares of the company’s stock worth $87,319,000 after buying an additional 497,517 shares in the last quarter. Norges Bank acquired a new stake in Duolingo during the fourth quarter worth about $86,159,000. Finally, Amundi increased its holdings in Duolingo by 1,351.7% in the 1st quarter. Amundi now owns 449,068 shares of the company’s stock valued at $44,265,000 after buying an additional 418,134 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Duolingo Price Performance

Duolingo stock opened at $146.98 on Monday. The stock’s 50 day moving average is $132.35 and its 200 day moving average is $115.39. Duolingo, Inc. has a one year low of $87.89 and a one year high of $353.00. The firm has a market cap of $6.88 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.20 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.72.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. The company had revenue of $298.45 million for the quarter, compared to the consensus estimate of $295.58 million. Duolingo had a net margin of 35.88% and a return on equity of 12.10%. Duolingo’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. As a group, research analysts expect that Duolingo, Inc. will post 2.62 EPS for the current year.

Insider Activity

In other news, General Counsel Stephen C. Chen sold 1,024 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $129.13, for a total transaction of $132,229.12. Following the transaction, the general counsel owned 51,841 shares of the company’s stock, valued at $6,694,228.33. This represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalie Glance sold 2,751 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $129.13, for a total value of $355,236.63. Following the completion of the sale, the insider owned 170,650 shares of the company’s stock, valued at approximately $22,036,034.50. This represents a 1.59% decrease in their ownership of the stock. 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 90 days, insiders have sold 6,668 shares of company stock worth $874,382. Company insiders own 16.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on DUOL shares. Morgan Stanley boosted their price objective on shares of Duolingo from $95.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Argus reissued a “hold” rating and set a $146.00 price target on shares of Duolingo in a report on Tuesday, August 25th. Truist Financial upped their price objective on Duolingo from $100.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Craig Hallum cut Duolingo to a “hold” rating in a research report on Tuesday, August 18th. Finally, KeyCorp raised Duolingo from a “hold” rating to an “overweight” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $132.65.

About Duolingo

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.