SummitTX Capital L.P. Increases Position in Duolingo, Inc. $DUOL

SummitTX Capital L.P. increased its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 286.6% in the first quarter, HoldingsChannel.com reports. The firm owned 12,173 shares of the company’s stock after buying an additional 9,024 shares during the quarter. SummitTX Capital L.P.’s holdings in Duolingo were worth $1,200,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Lombard Odier Asset Management USA Corp purchased a new position in shares of Duolingo during the 1st quarter valued at approximately $248,000. Renaissance Technologies LLC increased its holdings in Duolingo by 91.3% in the 1st quarter. Renaissance Technologies LLC now owns 603,806 shares of the company’s stock worth $59,517,000 after acquiring an additional 288,252 shares in the last quarter. Caxton Associates LLP raised its position in Duolingo by 2,526.0% during the first quarter. Caxton Associates LLP now owns 36,948 shares of the company’s stock worth $3,642,000 after acquiring an additional 35,541 shares during the period. Bank of Nova Scotia acquired a new position in Duolingo during the first quarter worth $252,000. Finally, Sei Investments Co. lifted its holdings in Duolingo by 67.8% during the first quarter. Sei Investments Co. now owns 9,325 shares of the company’s stock valued at $919,000 after purchasing an additional 3,768 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Duolingo Stock Performance

NASDAQ:DUOL opened at $140.17 on Thursday. The company’s 50-day moving average price is $122.21 and its 200-day moving average price is $116.16. 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 company has a market cap of $6.53 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.08 and a beta of 0.88. Duolingo, Inc. has a twelve month low of $87.89 and a twelve month high of $468.00.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results 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 net margin of 38.44% and a return on equity of 14.07%. The firm had revenue of $291.97 million for the quarter, compared to analyst estimates of $288.60 million. During the same period in the previous year, the business posted $0.72 earnings per share. Duolingo’s quarterly revenue was up 26.5% on a year-over-year basis. On average, sell-side analysts forecast that Duolingo, Inc. will post 2.81 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Robert Meese sold 1,420 shares of Duolingo stock in a transaction that occurred 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 transaction, the insider owned 170,745 shares in the company, valued at approximately $19,150,759.20. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalie Glance sold 3,360 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $113.59, for a total value of $381,662.40. Following the completion of the sale, the insider owned 173,401 shares of the company’s stock, valued at approximately $19,696,619.59. The trade was a 1.90% decrease in their ownership of the stock. 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. Insiders sold 9,506 shares of company stock worth $1,073,864 over the last ninety days. Corporate insiders own 16.62% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on DUOL. DA Davidson reissued a “neutral” rating and set a $120.00 target price on shares of Duolingo in a research note on Monday, June 29th. JPMorgan Chase & Co. raised their price target on shares of Duolingo from $94.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Morgan Stanley lifted their price objective on Duolingo from $95.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Scotiabank reiterated a “sector perform” rating and set a $130.00 price objective on shares of Duolingo in a research note on Tuesday. Finally, Wedbush initiated coverage on Duolingo in a report on Thursday, July 16th. They set a “neutral” rating and a $139.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Duolingo has an average rating of “Hold” and an average price target of $152.29.

Duolingo 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.