Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Duolingo, Inc. (NASDAQ:DUOL)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Duolingo, Inc. (NASDAQ:DUOL) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,544 shares of the company’s stock, valued at approximately $717,000.

A number of other hedge funds have also recently added to or reduced their stakes in DUOL. Glenmede Trust Co. NA bought a new stake in shares of Duolingo in the 3rd quarter worth approximately $243,000. Townsquare Capital LLC acquired a new stake in Duolingo in the third quarter worth $277,000. FMR LLC lifted its stake in Duolingo by 26.9% in the third quarter. FMR LLC now owns 2,663,234 shares of the company’s stock valued at $751,085,000 after buying an additional 564,173 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Duolingo during the third quarter valued at $1,284,000. Finally, Cerity Partners LLC boosted its stake in Duolingo by 8.2% during the 3rd quarter. Cerity Partners LLC now owns 51,374 shares of the company’s stock valued at $14,488,000 after purchasing an additional 3,894 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Transactions at Duolingo

In other news, 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 transaction of $470,040.00. Following the completion of the sale, the insider now directly owns 136,760 shares of the company’s stock, valued at $42,855,113.60. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Meese sold 5,000 shares of Duolingo stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $270.00, for a total value of $1,350,000.00. Following the sale, the insider now owns 147,053 shares of the company’s stock, valued at approximately $39,704,310. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,319 shares of company stock valued at $5,134,526. 18.30% of the stock is owned by insiders.

Duolingo Price Performance

Shares of NASDAQ:DUOL opened at $346.52 on Tuesday. The company has a market cap of $15.24 billion, a P/E ratio of 189.36 and a beta of 0.79. The company’s fifty day moving average is $302.18 and its two-hundred day moving average is $233.86. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $364.95.

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

Analyst Upgrades and Downgrades

DUOL has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. Bank of America raised their price objective on shares of Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Barclays increased their price target on Duolingo from $183.00 to $295.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. JMP Securities downgraded Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their target price on Duolingo from $303.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Five 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $331.33.

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.