Assetmark Inc. Acquires 206 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Assetmark Inc. boosted its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,054 shares of the company’s stock after purchasing an additional 206 shares during the quarter. Assetmark Inc.’s holdings in Duolingo were worth $579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC bought a new stake in Duolingo during the 2nd quarter valued at approximately $204,768,000. Teachers Retirement System of The State of Kentucky raised its stake in Duolingo by 23.7% during the 2nd 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 during the period. Price T Rowe Associates Inc. MD raised its stake in Duolingo by 73.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock valued at $80,459,000 after purchasing an additional 154,659 shares during the period. Vanguard Group Inc. raised its stake in Duolingo by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock valued at $747,200,000 after purchasing an additional 67,004 shares during the period. Finally, State of Michigan Retirement System bought a new stake in Duolingo during the 2nd quarter valued at approximately $1,857,000. Institutional investors own 91.59% of the company’s stock.

Duolingo Price Performance

Shares of Duolingo stock opened at $307.32 on Friday. The stock has a market cap of $13.38 billion, a price-to-earnings ratio of 167.93 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The stock has a 50 day moving average price of $281.68 and a 200-day moving average price of $224.96. Duolingo, Inc. has a one year low of $145.05 and a one year high of $330.61.

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

Analysts Set New Price Targets

DUOL has been the subject of several research analyst reports. Bank of America raised their price target on Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on Duolingo from $303.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Barclays raised their price target on Duolingo from $183.00 to $295.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. UBS Group raised their price target on Duolingo from $355.00 to $408.00 and gave the company a “buy” rating in a report on Thursday. Finally, JMP Securities cut Duolingo from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $331.33.

Insider Buying and Selling

In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of Duolingo stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the completion of the sale, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at $18,417,183.12. The trade was a 16.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Stephen C. Chen sold 19,464 shares of Duolingo stock in a transaction on Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the sale, the general counsel now directly owns 35,558 shares of the company’s stock, valued at approximately $7,522,294.90. This trade represents a 35.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 70,374 shares of company stock valued at $15,802,382. Insiders own 18.30% of the company’s stock.

Duolingo Company 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.