Confluence Wealth Services Inc. Acquires Shares of 1,108 Duolingo, Inc. (NASDAQ:DUOL)

Confluence Wealth Services Inc. bought a new position in Duolingo, Inc. (NASDAQ:DUOL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,108 shares of the company’s stock, valued at approximately $312,000.

Other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC bought a new stake in Duolingo during the second quarter valued at about $31,000. Blue Trust Inc. purchased a new position in shares of Duolingo during the 2nd quarter valued at about $32,000. GAMMA Investing LLC grew its stake in shares of Duolingo by 350.0% during the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $36,000 after acquiring an additional 133 shares during the period. Mark Sheptoff Financial Planning LLC purchased a new stake in Duolingo in the 2nd quarter worth approximately $36,000. Finally, Farther Finance Advisors LLC raised its stake in Duolingo by 164.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock worth $36,000 after acquiring an additional 79 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DUOL has been the topic of several research analyst reports. Wolfe Research started coverage on Duolingo in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Barclays lowered their target price on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Piper Sandler reiterated an “overweight” rating and issued a $271.00 price target on shares of Duolingo in a research note on Friday, August 30th. JMP Securities cut Duolingo from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th. Finally, DA Davidson reissued a “buy” rating and set a $250.00 price target on shares of Duolingo in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Duolingo has an average rating of “Moderate Buy” and an average target price of $277.22.

Duolingo Price Performance

Shares of DUOL opened at $290.65 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28. The company’s fifty day moving average price is $262.16 and its 200-day moving average price is $218.68. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $311.91. The firm has a market capitalization of $12.65 billion, a PE ratio of 207.61 and a beta of 0.79.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The business had revenue of $178.30 million for the quarter, compared to analyst estimates of $177.13 million. During the same period in the prior year, the company earned $0.08 earnings per share. The company’s revenue was up 40.6% on a year-over-year basis. On average, equities research analysts predict that Duolingo, Inc. will post 1.87 EPS for the current year.

Insiders Place Their Bets

In other news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $280.91, for a total value of $421,365.00. Following the sale, the insider now owns 138,260 shares in the company, valued at $38,838,616.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Duolingo news, insider Robert Meese sold 5,000 shares of Duolingo stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $285.04, for a total value of $1,425,200.00. Following the completion of the transaction, the insider now owns 142,053 shares of the company’s stock, valued at approximately $40,490,787.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $280.91, for a total transaction of $421,365.00. Following the sale, the insider now directly owns 138,260 shares in the company, valued at approximately $38,838,616.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,874 shares of company stock valued at $15,332,342. 18.30% of the stock is owned by insiders.

Duolingo Company Profile

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.