Citigroup Inc. Increases Stock Position in Duolingo, Inc. (NASDAQ:DUOL)

Citigroup Inc. lifted its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 2.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 36,649 shares of the company’s stock after purchasing an additional 752 shares during the period. Citigroup Inc.’s holdings in Duolingo were worth $10,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Tidal Investments LLC grew its holdings in Duolingo by 30.9% during the first quarter. Tidal Investments LLC now owns 4,360 shares of the company’s stock worth $962,000 after acquiring an additional 1,030 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Duolingo by 7.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 54,254 shares of the company’s stock worth $11,967,000 after purchasing an additional 3,750 shares during the period. GAMMA Investing LLC increased its holdings in shares of Duolingo by 350.0% in the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Polianta Ltd lifted its stake in shares of Duolingo by 32.6% in the second quarter. Polianta Ltd now owns 6,100 shares of the company’s stock valued at $1,272,000 after purchasing an additional 1,500 shares during the period. Finally, Westend Capital Management LLC purchased a new stake in Duolingo during the second quarter worth about $2,536,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Duolingo Price Performance

DUOL stock opened at $347.64 on Friday. The stock has a market capitalization of $15.29 billion, a price-to-earnings ratio of 189.97 and a beta of 0.79. The stock’s fifty day simple moving average is $298.91 and its 200-day simple moving average is $231.11. Duolingo, Inc. has a 52-week low of $145.05 and a 52-week high of $364.95. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DUOL. Barclays boosted their price target on Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Piper Sandler upped their target price on Duolingo from $271.00 to $351.00 and gave the company an “overweight” 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 note on Thursday, November 7th. The Goldman Sachs Group increased their price objective on shares of Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, UBS Group lifted their target price on shares of Duolingo from $355.00 to $408.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $331.33.

Insider Buying and Selling at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 14,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.44, for a total transaction of $2,904,160.00. Following the completion of the sale, the chief financial officer now owns 88,856 shares of the company’s stock, valued at approximately $18,432,288.64. The trade was a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Meese sold 5,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 147,053 shares in the company, 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 a total of 33,319 shares of company stock worth $8,038,686 in the last quarter. 18.30% of the stock is owned by insiders.

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.