4,612 Shares in Duolingo, Inc. (NASDAQ:DUOL) Bought by MML Investors Services LLC

MML Investors Services LLC acquired a new position in shares of Duolingo, Inc. (NASDAQ:DUOL) during the third quarter, HoldingsChannel reports. The firm acquired 4,612 shares of the company’s stock, valued at approximately $1,301,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DUOL. Blue Trust Inc. acquired a new stake in shares of Duolingo during the second quarter worth $32,000. Hennion & Walsh Asset Management Inc. grew its position in Duolingo by 13.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,499 shares of the company’s stock valued at $730,000 after purchasing an additional 408 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Duolingo by 19.5% in the second quarter. Nisa Investment Advisors LLC now owns 520 shares of the company’s stock valued at $109,000 after purchasing an additional 85 shares in the last quarter. Dakota Wealth Management bought a new position in Duolingo in the second quarter valued at $240,000. Finally, Fifth Third Bancorp bought a new position in Duolingo in the second quarter valued at $40,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DUOL shares. Piper Sandler raised their target price on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their price objective on shares of Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. UBS Group lifted their price objective on shares of Duolingo from $355.00 to $408.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. DA Davidson lifted their price objective on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Seaport Res Ptn downgraded shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $352.40.

Duolingo Price Performance

Shares of Duolingo stock opened at $332.81 on Thursday. Duolingo, Inc. has a twelve month low of $145.05 and a twelve month high of $378.48. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $320.94 and a two-hundred day simple moving average of $248.97. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 181.86 and a beta of 0.85.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. During the same quarter in the previous year, the company earned $0.06 EPS. The business’s revenue was up 39.9% on a year-over-year basis. Analysts forecast that Duolingo, Inc. will post 2.02 EPS for the current year.

Insider Activity

In related news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $280.91, for a total transaction of $421,365.00. Following the sale, the insider now directly owns 138,260 shares of the company’s stock, valued at approximately $38,838,616.60. The trade was a 1.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Meese sold 5,000 shares of Duolingo stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $270.00, for a total transaction of $1,350,000.00. Following the sale, the insider now directly owns 147,053 shares in the company, valued at $39,704,310. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,160 shares of company stock worth $82,570,216. 18.30% of the stock is currently owned by corporate insiders.

About Duolingo

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.