M&T Bank Corp Grows Stake in Duolingo, Inc. (NASDAQ:DUOL)

M&T Bank Corp increased its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 78.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,686 shares of the company’s stock after buying an additional 741 shares during the quarter. M&T Bank Corp’s holdings in Duolingo were worth $547,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in shares of Duolingo during the third quarter valued at $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Duolingo during the fourth quarter valued at $31,000. First Horizon Advisors Inc. purchased a new stake in shares of Duolingo during the third quarter valued at $29,000. Global Retirement Partners LLC grew its holdings in shares of Duolingo by 1,255.6% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock valued at $40,000 after buying an additional 113 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Duolingo by 164.6% during the third quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after buying an additional 79 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Duolingo

In related news, General Counsel Stephen C. Chen sold 2,064 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total transaction of $898,087.68. Following the completion of the sale, the general counsel now owns 34,634 shares of the company’s stock, valued at approximately $15,069,946.08. This represents a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $336.82, for a total transaction of $3,368,200.00. Following the sale, the insider now directly owns 72 shares of the company’s stock, valued at approximately $24,251.04. This represents a 99.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,499 shares of company stock valued at $29,162,568. Corporate insiders own 18.30% of the company’s stock.

Duolingo Trading Down 6.4 %

Shares of Duolingo stock opened at $272.49 on Friday. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $441.77. The company has a market cap of $12.33 billion, a P/E ratio of 148.90 and a beta of 0.92. 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 firm has a 50-day simple moving average of $351.16 and a two-hundred day simple moving average of $315.21.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business had revenue of $209.55 million for the quarter, compared to analysts’ expectations of $205.49 million. As a group, equities analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DUOL has been the topic of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of Duolingo in a report on Friday, February 14th. Piper Sandler boosted their target price on shares of Duolingo from $351.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. UBS Group boosted their target price on shares of Duolingo from $408.00 to $410.00 and gave the company a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of Duolingo from $400.00 to $410.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC boosted their target price on shares of Duolingo from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $375.00.

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.