State of Michigan Retirement System Has $2.92 Million Holdings in Duolingo, Inc. (NASDAQ:DUOL)

State of Michigan Retirement System boosted its position in Duolingo, Inc. (NASDAQ:DUOL) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,000 shares of the company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Duolingo were worth $2,918,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DUOL. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Duolingo in the third quarter valued at about $568,000. US Bancorp DE boosted its position in shares of Duolingo by 142.3% in the third quarter. US Bancorp DE now owns 2,450 shares of the company’s stock valued at $691,000 after acquiring an additional 1,439 shares during the period. Farther Finance Advisors LLC boosted its holdings 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 purchasing an additional 79 shares during the period. M&G PLC boosted its holdings in Duolingo by 3.0% in the 3rd quarter. M&G PLC now owns 38,301 shares of the company’s stock valued at $10,801,000 after purchasing an additional 1,105 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Duolingo in the 3rd quarter valued at about $68,000. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DUOL has been the subject of several recent research reports. Barclays boosted their price target on Duolingo from $295.00 to $330.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. JMP Securities reiterated a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. Piper Sandler upped their target price on Duolingo from $351.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Scotiabank assumed coverage on shares of Duolingo in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $425.00 price objective for the company. Finally, UBS Group upped their price objective on shares of Duolingo from $408.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Seven investment 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $375.00.

Duolingo Stock Up 8.4 %

DUOL stock opened at $295.56 on Friday. The stock has a market capitalization of $13.00 billion, a P/E ratio of 161.51 and a beta of 0.92. 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 firm has a 50-day moving average price of $355.60 and a 200-day moving average price of $312.65. Duolingo, Inc. has a 12 month low of $145.05 and a 12 month high of $441.77.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The company had revenue of $209.55 million during the quarter, compared to the consensus estimate of $205.49 million. As a group, equities research analysts anticipate that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

Insider Activity at Duolingo

In related news, General Counsel Stephen C. Chen sold 2,064 shares of Duolingo stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total transaction of $898,087.68. Following the sale, the general counsel now directly owns 34,634 shares in the company, valued at $15,069,946.08. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Severin Hacker sold 188,901 shares of Duolingo 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 sale, the insider now owns 72 shares in the company, valued at approximately $24,446.88. This represents a 99.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,159 shares of company stock valued at $107,512,184 in the last 90 days. 18.30% of the stock is owned by corporate insiders.

Duolingo 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.