Sumitomo Life Insurance Co. Reduces Stake in Duolingo, Inc. (NASDAQ:DUOL)

Sumitomo Life Insurance Co. lessened its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 2.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,598 shares of the company’s stock after selling 64 shares during the period. Sumitomo Life Insurance Co.’s holdings in Duolingo were worth $842,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DUOL. Charles Schwab Investment Management Inc. raised its holdings in Duolingo by 42.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company’s stock worth $96,530,000 after purchasing an additional 101,653 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Duolingo by 23.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock valued at $14,005,000 after acquiring an additional 12,860 shares during the last quarter. Lisanti Capital Growth LLC lifted its position in Duolingo by 17.8% in the third quarter. Lisanti Capital Growth LLC now owns 11,645 shares of the company’s stock valued at $3,284,000 after acquiring an additional 1,760 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Duolingo during the third quarter worth about $4,350,000. Finally, Diversified Trust Co purchased a new position in shares of Duolingo during the fourth quarter worth about $784,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

DUOL has been the subject of a number of research analyst reports. Jefferies Financial Group assumed coverage on Duolingo in a research report on Friday, January 24th. They issued a “hold” rating and a $370.00 target price for the company. Needham & Company LLC raised their target price on shares of Duolingo from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on shares of Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. The Goldman Sachs Group increased their price target on shares of Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson lifted their price objective on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $355.55.

Insiders Place Their Bets

In other Duolingo news, insider Severin Hacker sold 188,901 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $339.54, for a total transaction of $64,139,445.54. Following the sale, the insider now directly owns 72 shares in the company, valued at approximately $24,446.88. The trade was a 99.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total value of $470,040.00. Following the completion of the sale, the insider now directly owns 136,760 shares in the company, valued at $42,855,113.60. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,124 shares of company stock worth $95,033,738. Corporate insiders own 18.30% of the company’s stock.

Duolingo Price Performance

Shares of DUOL opened at $358.48 on Thursday. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $340.64 and its two-hundred day moving average is $277.22. Duolingo, Inc. has a twelve month low of $145.05 and a twelve month high of $378.48. The firm has a market capitalization of $15.77 billion, a PE ratio of 195.89 and a beta of 0.87.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The firm had revenue of $192.59 million for the quarter, compared to the consensus estimate of $189.19 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The company’s revenue for the quarter was up 39.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. Research analysts anticipate that Duolingo, Inc. will post 2.03 earnings per share for the current year.

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.