The Manufacturers Life Insurance Company Trims Holdings in Duolingo, Inc. (NASDAQ:DUOL)

The Manufacturers Life Insurance Company lowered its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,165 shares of the company’s stock after selling 1,392 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Duolingo were worth $8,507,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Tidal Investments LLC boosted its holdings in Duolingo by 30.9% in the 1st quarter. Tidal Investments LLC now owns 4,360 shares of the company’s stock worth $962,000 after buying an additional 1,030 shares during the period. GAMMA Investing LLC boosted its stake in shares of Duolingo by 350.0% in the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after acquiring an additional 133 shares during the period. Strategic Advocates LLC grew its position in shares of Duolingo by 8.3% during the second quarter. Strategic Advocates LLC now owns 1,149 shares of the company’s stock worth $240,000 after purchasing an additional 88 shares in the last quarter. Renaissance Capital LLC raised its stake in Duolingo by 70.7% during the 2nd quarter. Renaissance Capital LLC now owns 32,961 shares of the company’s stock valued at $6,878,000 after purchasing an additional 13,655 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Duolingo by 109.2% in the 2nd quarter. SG Americas Securities LLC now owns 7,615 shares of the company’s stock worth $1,589,000 after purchasing an additional 3,975 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DUOL shares. 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. Seaport Res Ptn cut shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America raised their price objective on Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Piper Sandler boosted their target price on Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, 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. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Duolingo presently has a consensus rating of “Moderate Buy” and an average price target of $331.33.

Duolingo Stock Performance

NASDAQ DUOL opened at $360.98 on Wednesday. The business’s 50 day moving average price is $303.70 and its 200-day moving average price is $235.06. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $364.95. The company has a market cap of $15.88 billion, a P/E ratio of 197.26 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09.

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

Insider Buying and Selling

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $280.91, for a total value of $421,365.00. Following the transaction, the insider now owns 138,260 shares of the company’s stock, valued at $38,838,616.60. This represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Meese sold 5,000 shares of Duolingo stock in a transaction on Friday, September 20th. The stock was 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 trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,319 shares of company stock valued at $5,134,526 in the last ninety days. 18.30% of the stock is owned by company insiders.

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.