Duolingo, Inc. $DUOL Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 91.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 575 shares of the company’s stock after selling 6,307 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Duolingo were worth $185,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DUOL. Bryce Point Capital LLC purchased a new position in shares of Duolingo during the 2nd quarter worth about $946,000. Vanguard Group Inc. grew its holdings in Duolingo by 3.3% in the second quarter. Vanguard Group Inc. now owns 3,647,951 shares of the company’s stock valued at $1,495,733,000 after purchasing an additional 116,135 shares during the period. Los Angeles Capital Management LLC acquired a new position in Duolingo during the second quarter worth approximately $14,377,000. Rhumbline Advisers raised its stake in Duolingo by 17.2% during the second quarter. Rhumbline Advisers now owns 124,376 shares of the company’s stock worth $50,997,000 after purchasing an additional 18,210 shares during the period. Finally, Jefferies Financial Group Inc. raised its stake in Duolingo by 117.0% during the second quarter. Jefferies Financial Group Inc. now owns 26,367 shares of the company’s stock worth $10,811,000 after purchasing an additional 14,219 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Matthew Skaruppa sold 3,059 shares of Duolingo stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $175.76, for a total transaction of $537,649.84. Following the sale, the chief financial officer owned 37,487 shares of the company’s stock, valued at $6,588,715.12. The trade was a 7.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Natalie Glance sold 2,471 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $175.79, for a total transaction of $434,377.09. Following the completion of the transaction, the insider owned 111,166 shares in the company, valued at $19,541,871.14. This represents a 2.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 33,169 shares of company stock worth $5,826,651. Company insiders own 15.67% of the company’s stock.

Analyst Ratings Changes

DUOL has been the subject of several research reports. Bank of America raised shares of Duolingo from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $301.00 to $250.00 in a research note on Monday, January 5th. Evercore set a $330.00 price target on Duolingo and gave the company an “outperform” rating in a research report on Thursday, November 6th. Zacks Research lowered Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Needham & Company LLC cut their price objective on Duolingo from $460.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, The Goldman Sachs Group decreased their target price on Duolingo from $425.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Twelve investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $300.25.

Duolingo Trading Up 4.4%

NASDAQ:DUOL opened at $119.40 on Friday. The business’s 50-day moving average is $168.45 and its two-hundred day moving average is $249.52. The firm has a market capitalization of $5.52 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.61 and a beta of 0.86. Duolingo, Inc. has a 12 month low of $112.41 and a 12 month high of $544.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.82 and a quick ratio of 2.82.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Wednesday, November 5th. The company reported $5.95 earnings per share for the quarter, topping the consensus estimate of $0.72 by $5.23. The company had revenue of $271.71 million during the quarter, compared to the consensus estimate of $260.14 million. Duolingo had a return on equity of 14.02% and a net margin of 40.03%.The company’s revenue was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. Research analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

About Duolingo

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.