Duolingo, Inc. (NASDAQ:DUOL) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,118 shares of the company’s stock after purchasing an additional 280 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Duolingo were worth $1,443,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dragoneer Investment Group LLC acquired a new position in Duolingo in the 2nd quarter valued at about $204,768,000. American Century Companies Inc. increased its holdings in shares of Duolingo by 25.1% in the second quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock valued at $104,117,000 after purchasing an additional 100,167 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Duolingo by 153.1% during the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock worth $82,450,000 after purchasing an additional 238,990 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Duolingo by 73.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after purchasing an additional 154,659 shares during the period. Finally, International Assets Investment Management LLC grew its position 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 valued at $100,135,000 after buying an additional 353,918 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Duolingo

In other Duolingo news, General Counsel Stephen C. Chen sold 19,464 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the completion of the sale, the general counsel now directly owns 35,558 shares in the company, valued at $7,522,294.90. This represents a 35.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $313.36, for a total value of $470,040.00. Following the completion of the transaction, the insider now owns 136,760 shares in the company, valued at approximately $42,855,113.60. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,783 shares of company stock worth $12,156,296 in the last ninety days. Insiders own 18.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DUOL. Needham & Company LLC upped their price objective on shares of Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. DA Davidson increased their price target on shares of Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays lifted their price objective on Duolingo from $183.00 to $295.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Evercore ISI raised Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on Duolingo from $303.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Five investment 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.33.

Duolingo Stock Up 1.6 %

DUOL opened at $353.53 on Wednesday. Duolingo, Inc. has a 12 month low of $145.05 and a 12 month high of $364.95. The business has a 50-day moving average of $294.74 and a two-hundred day moving average of $229.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. The stock has a market capitalization of $15.55 billion, a price-to-earnings ratio of 193.19 and a beta of 0.79.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The firm had revenue of $192.59 million during the quarter, compared to the consensus estimate of $189.19 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. Duolingo’s revenue was up 39.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 earnings per share. On average, research analysts expect that Duolingo, Inc. will post 2.02 earnings per share for the current 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.