Erste Asset Management GmbH Trims Stake in Duolingo, Inc. (NASDAQ:DUOL)

Erste Asset Management GmbH lessened its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 7.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,968 shares of the company’s stock after selling 4,536 shares during the quarter. Erste Asset Management GmbH’s holdings in Duolingo were worth $18,585,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC increased its stake in Duolingo by 164.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after buying an additional 79 shares during the period. Assetmark Inc. lifted its stake in shares of Duolingo by 11.1% in the 3rd quarter. Assetmark Inc. now owns 2,054 shares of the company’s stock valued at $579,000 after purchasing an additional 206 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of Duolingo in the third quarter worth about $279,000. Axxcess Wealth Management LLC increased its holdings in Duolingo by 14.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 3,181 shares of the company’s stock worth $897,000 after purchasing an additional 413 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Duolingo during the 3rd quarter valued at approximately $321,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Transactions at Duolingo

In related news, CFO Matthew Skaruppa sold 5,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $324.48, for a total transaction of $1,622,400.00. Following the completion of the sale, the chief financial officer now directly owns 67,730 shares in the company, valued at $21,977,030.40. This represents a 6.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ahn Luis Von sold 8,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $321.00, for a total transaction of $2,568,000.00. The disclosure for this sale can be found here. Insiders sold a total of 82,499 shares of company stock worth $29,162,568 in the last quarter. Insiders own 18.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Duolingo from $351.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. UBS Group raised their price objective on Duolingo from $408.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Bank of America downgraded shares of Duolingo from a “buy” rating to a “neutral” rating and upped their price target for the company from $355.00 to $375.00 in a research report on Wednesday, December 11th. The Goldman Sachs Group raised their price target on shares of Duolingo from $275.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Duolingo from $400.00 to $410.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Duolingo currently has a consensus rating of “Moderate Buy” and an average target price of $375.00.

Duolingo Stock Performance

Duolingo stock opened at $291.02 on Thursday. The business’s 50-day moving average price is $352.23 and its two-hundred day moving average price is $315.51. The stock has a market cap of $13.17 billion, a PE ratio of 159.03 and a beta of 0.92. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $441.77. 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 issued its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.19). Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business had revenue of $209.55 million during the quarter, compared to the consensus estimate of $205.49 million. As a group, analysts expect that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal 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.