Fred Alger Management LLC Purchases New Position in Duolingo, Inc. (NASDAQ:DUOL)

Fred Alger Management LLC acquired a new stake in Duolingo, Inc. (NASDAQ:DUOL) in the second quarter, according to its most recent filing with the SEC. The fund acquired 9,919 shares of the company’s stock, valued at approximately $2,070,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DUOL. Xponance Inc. grew its position in shares of Duolingo by 308.4% in the second quarter. Xponance Inc. now owns 7,352 shares of the company’s stock valued at $1,534,000 after purchasing an additional 5,552 shares in the last quarter. Hood River Capital Management LLC purchased a new position in Duolingo during the 2nd quarter valued at about $26,919,000. HighVista Strategies LLC increased its position in shares of Duolingo by 48.0% during the second quarter. HighVista Strategies LLC now owns 7,400 shares of the company’s stock valued at $1,544,000 after buying an additional 2,400 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of Duolingo in the second quarter worth about $20,831,000. Finally, ProShare Advisors LLC boosted its position in shares of Duolingo by 7.3% in the second quarter. ProShare Advisors LLC now owns 5,710 shares of the company’s stock valued at $1,192,000 after acquiring an additional 390 shares during the period. Institutional investors own 91.59% of the company’s stock.

Insiders Place Their Bets

In other news, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $198.61, for a total value of $1,986,100.00. Following the sale, the insider now directly owns 72 shares of the company’s stock, valued at approximately $14,299.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Robert Meese sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total value of $1,425,200.00. Following the sale, the insider now directly owns 142,053 shares of the company’s stock, valued at approximately $40,490,787.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $198.61, for a total value of $1,986,100.00. Following the transaction, the insider now directly owns 72 shares of the company’s stock, valued at approximately $14,299.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,374 shares of company stock worth $22,019,727. 18.30% of the stock is owned by corporate insiders.

Duolingo Price Performance

Shares of NASDAQ DUOL opened at $277.96 on Friday. Duolingo, Inc. has a 1 year low of $140.16 and a 1 year high of $297.56. The stock has a market capitalization of $11.99 billion, a P/E ratio of 286.56 and a beta of 0.76. The company’s 50-day moving average is $206.15 and its 200 day moving average is $205.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick 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 analysts’ consensus estimates of $0.32 by $0.19. The firm had revenue of $178.30 million for the quarter, compared to the consensus estimate of $177.13 million. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 EPS. On average, sell-side analysts expect that Duolingo, Inc. will post 1.87 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on DUOL. Needham & Company LLC upped their target price on shares of Duolingo from $245.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Wolfe Research assumed coverage on Duolingo in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Evercore ISI raised Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. JMP Securities raised their price objective on Duolingo from $260.00 to $275.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, DA Davidson reissued a “buy” rating and issued a $250.00 price target on shares of Duolingo in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and a consensus target price of $255.50.

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.