Mark Asset Management LP Purchases 65,771 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Mark Asset Management LP boosted its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 263.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 90,755 shares of the company’s stock after acquiring an additional 65,771 shares during the period. Duolingo comprises approximately 1.9% of Mark Asset Management LP’s investment portfolio, making the stock its 14th biggest holding. Mark Asset Management LP’s holdings in Duolingo were worth $18,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DUOL. Dragoneer Investment Group LLC bought a new stake in shares of Duolingo in the 2nd quarter worth about $204,768,000. Whale Rock Capital Management LLC increased its stake in Duolingo by 23.9% during the first quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock worth $281,281,000 after acquiring an additional 245,599 shares during the last quarter. Bank of New York Mellon Corp raised its position in Duolingo by 153.1% during the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock valued at $82,450,000 after purchasing an additional 238,990 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Duolingo by 73.6% in 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 last quarter. Finally, Clearbridge Investments LLC bought a new stake in shares of Duolingo in the 1st quarter valued at approximately $28,555,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Duolingo Price Performance

Shares of DUOL stock opened at $277.96 on Friday. Duolingo, Inc. has a twelve month low of $140.16 and a twelve month high of $297.56. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $206.15 and a two-hundred day simple moving average of $205.85. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 286.56 and a beta of 0.76.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The firm had revenue of $178.30 million for the quarter, compared to the consensus estimate of $177.13 million. During the same period last year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was up 40.6% on a year-over-year basis. On average, analysts predict that Duolingo, Inc. will post 1.87 EPS for the current fiscal year.

Insider Activity at Duolingo

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $196.24, for a total transaction of $294,360.00. Following the completion of the sale, the insider now directly owns 145,782 shares of the company’s stock, valued at $28,608,259.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $196.24, for a total transaction of $294,360.00. Following the completion of the sale, the insider now owns 145,782 shares of the company’s stock, valued at $28,608,259.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $1,986,100.00. Following the completion of the sale, the insider now owns 72 shares of the company’s stock, valued at $14,299.92. The disclosure for this sale can be found here. Insiders have sold a total of 106,374 shares of company stock valued at $22,019,727 over the last quarter. 18.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DUOL. Needham & Company LLC raised their price target on Duolingo from $245.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday. DA Davidson restated a “buy” rating and issued a $250.00 target price on shares of Duolingo in a report on Tuesday, September 10th. Evercore ISI raised shares of Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. Piper Sandler reissued an “overweight” rating and issued a $271.00 price objective on shares of Duolingo in a research report on Friday, August 30th. Finally, Wolfe Research began coverage on shares of Duolingo in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Duolingo has an average rating of “Moderate Buy” and an average price target of $255.50.

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.