Allspring Global Investments Holdings LLC Sells 15,869 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 23.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,737 shares of the company’s stock after selling 15,869 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Duolingo were worth $14,591,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Dragoneer Investment Group LLC acquired a new stake in shares of Duolingo in the 2nd quarter worth about $204,768,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Duolingo by 23.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock valued at $14,005,000 after purchasing an additional 12,860 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in 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 buying an additional 154,659 shares in the last quarter. Vanguard Group Inc. raised its position in Duolingo by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock valued at $747,200,000 after buying an additional 67,004 shares during the last quarter. Finally, State of Michigan Retirement System bought a new position in Duolingo during the 2nd quarter valued at $1,857,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DUOL. The Goldman Sachs Group upped their target price on shares of Duolingo from $198.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Piper Sandler reiterated an “overweight” rating and issued a $271.00 price objective on shares of Duolingo in a research note on Friday, August 30th. Barclays cut their target price on Duolingo from $230.00 to $183.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Wolfe Research began coverage on Duolingo in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, JMP Securities cut Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $277.22.

Insider Buying and Selling at Duolingo

In other news, insider Severin Hacker sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.49, for a total value of $1,664,900.00. Following the completion of the transaction, the insider now directly owns 72 shares of the company’s stock, valued at $11,987.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Duolingo news, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $280.91, for a total value of $421,365.00. Following the sale, the insider now directly owns 138,260 shares in the company, valued at $38,838,616.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $166.49, for a total transaction of $1,664,900.00. Following the transaction, the insider now owns 72 shares of the company’s stock, valued at $11,987.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,374 shares of company stock valued at $18,571,912 in the last 90 days. 18.30% of the stock is currently owned by company insiders.

Duolingo Stock Up 3.6 %

DUOL stock opened at $291.61 on Friday. Duolingo, Inc. has a fifty-two week low of $140.16 and a fifty-two week high of $297.56. The stock has a fifty day moving average of $251.96 and a 200-day moving average of $214.94. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 300.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28.

Duolingo (NASDAQ:DUOL) last posted its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.19. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The firm had revenue of $178.30 million during the quarter, compared to the consensus estimate of $177.13 million. During the same quarter last year, the company earned $0.08 earnings per share. The company’s revenue was up 40.6% on a year-over-year basis. As a group, equities research analysts predict that Duolingo, Inc. will post 1.87 earnings per share for the current year.

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.