Duolingo, Inc. (NASDAQ:DUOL) Shares Purchased by Amalgamated Bank

Amalgamated Bank grew its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,516 shares of the company’s stock after purchasing an additional 172 shares during the quarter. Amalgamated Bank’s holdings in Duolingo were worth $6,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in Duolingo during the 3rd quarter worth approximately $568,000. State of Alaska Department of Revenue raised its stake in shares of Duolingo by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 4,315 shares of the company’s stock valued at $1,216,000 after purchasing an additional 295 shares during the period. Pallas Capital Advisors LLC acquired a new position in shares of Duolingo during the third quarter worth $504,000. New York State Teachers Retirement System boosted its stake in shares of Duolingo by 1.5% in the third quarter. New York State Teachers Retirement System now owns 27,465 shares of the company’s stock valued at $7,746,000 after purchasing an additional 406 shares during the period. Finally, US Bancorp DE grew its holdings in Duolingo by 142.3% during the 3rd quarter. US Bancorp DE now owns 2,450 shares of the company’s stock valued at $691,000 after purchasing an additional 1,439 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

DUOL has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Scotiabank initiated coverage on Duolingo in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 price target on the stock. UBS Group raised their price objective on Duolingo from $408.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Needham & Company LLC lifted their price objective on Duolingo from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their target price on Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Duolingo has a consensus rating of “Moderate Buy” and an average target price of $355.55.

Duolingo Stock Performance

DUOL stock opened at $386.56 on Thursday. The stock’s 50 day simple moving average is $359.50 and its 200 day simple moving average is $308.77. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $441.77. The firm has a market cap of $17.00 billion, a P/E ratio of 211.24 and a beta of 0.89. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07.

Insiders Place Their Bets

In other news, insider Severin Hacker sold 188,901 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 72 shares of the company’s stock, valued at approximately $24,446.88. This represents 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 the SEC website. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $369.33, for a total value of $553,995.00. Following the sale, the insider now owns 132,239 shares in the company, valued at $48,839,829.87. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 305,639 shares of company stock valued at $105,445,057. Company insiders own 18.30% of the company’s stock.

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.