Norges Bank Acquires New Shares in Duolingo, Inc. $DUOL

Norges Bank bought a new stake in Duolingo, Inc. (NASDAQ:DUOL) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 490,935 shares of the company’s stock, valued at approximately $86,159,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new stake in Duolingo in the third quarter valued at approximately $32,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Duolingo in the third quarter valued at approximately $47,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in Duolingo by 59.1% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 350 shares of the company’s stock valued at $61,000 after purchasing an additional 130 shares during the period. Huntington National Bank raised its position in Duolingo by 103.0% in the third quarter. Huntington National Bank now owns 205 shares of the company’s stock valued at $66,000 after purchasing an additional 104 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in Duolingo in the third quarter valued at approximately $70,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Duolingo from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Argus reissued a “hold” rating on shares of Duolingo in a research report on Wednesday, March 18th. DA Davidson boosted their target price on Duolingo from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Citigroup reissued a “neutral” rating and issued a $101.00 target price (down from $270.00) on shares of Duolingo in a research report on Friday, February 27th. Finally, Barclays cut their target price on Duolingo from $230.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $195.94.

Duolingo Stock Down 0.1%

Duolingo stock opened at $109.03 on Friday. Duolingo, Inc. has a twelve month low of $87.89 and a twelve month high of $540.30. The stock’s fifty day simple moving average is $103.65 and its 200-day simple moving average is $131.90. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.08 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.69 and a beta of 0.89.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Duolingo had a return on equity of 14.07% and a net margin of 38.44%.The business had revenue of $291.97 million for the quarter, compared to analyst estimates of $288.60 million. During the same quarter in the prior year, the company earned $0.72 earnings per share. The company’s revenue was up 26.5% on a year-over-year basis. As a group, equities analysts expect that Duolingo, Inc. will post 3.39 earnings per share for the current fiscal year.

Insider Transactions at Duolingo

In other news, insider Robert Meese sold 1,420 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $112.16, for a total transaction of $159,267.20. Following the sale, the insider owned 170,745 shares of the company’s stock, valued at approximately $19,150,759.20. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Stephen C. Chen sold 1,977 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $113.61, for a total value of $224,606.97. Following the sale, the general counsel directly owned 52,807 shares in the company, valued at $5,999,403.27. This represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 9,506 shares of company stock valued at $1,073,864. 16.62% of the stock is currently owned by company insiders.

Duolingo Company Profile

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.