Farther Finance Advisors LLC Buys 79 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Farther Finance Advisors LLC raised its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 164.6% in the 3rd quarter, Holdings Channel reports. The firm owned 127 shares of the company’s stock after acquiring an additional 79 shares during the period. Farther Finance Advisors LLC’s holdings in Duolingo were worth $36,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Duolingo by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock worth $747,200,000 after buying an additional 67,004 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in shares of Duolingo by 23.9% during the 1st 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 in the last quarter. Dragoneer Investment Group LLC bought a new position in shares of Duolingo during the 2nd quarter valued at approximately $204,768,000. American Century Companies Inc. grew its holdings in shares of Duolingo by 25.1% in the second quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock valued at $104,117,000 after purchasing an additional 100,167 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Duolingo by 153.1% in the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock worth $82,450,000 after purchasing an additional 238,990 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Insider Activity at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total value of $3,646,086.57. Following the sale, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. This trade represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stephen C. Chen sold 19,464 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the completion of the sale, the general counsel now owns 35,558 shares of the company’s stock, valued at $7,522,294.90. This trade represents a 35.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,374 shares of company stock worth $15,802,382. 18.30% of the stock is owned by corporate insiders.

Duolingo Price Performance

Shares of DUOL stock opened at $322.57 on Friday. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $330.61. The company has a market cap of $14.04 billion, a P/E ratio of 173.93 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. The stock’s 50-day moving average is $277.45 and its 200 day moving average is $223.72.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler increased their price objective on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Seaport Res Ptn downgraded shares of Duolingo from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Needham & Company LLC lifted their price target on Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group upped their price objective on Duolingo from $355.00 to $408.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Bank of America lifted their target price on Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Duolingo currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.33.

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.