Envestnet Asset Management Inc. Grows Stake in Duolingo, Inc. $DUOL

Envestnet Asset Management Inc. raised its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 30.6% in the third quarter, HoldingsChannel reports. The firm owned 34,870 shares of the company’s stock after acquiring an additional 8,166 shares during the period. Envestnet Asset Management Inc.’s holdings in Duolingo were worth $11,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Duolingo in the second quarter valued at about $40,000. Atlantic Union Bankshares Corp bought a new stake in shares of Duolingo in the 3rd quarter valued at about $32,000. Farther Finance Advisors LLC lifted its position in shares of Duolingo by 82.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 133 shares of the company’s stock worth $43,000 after purchasing an additional 60 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Duolingo by 46.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 146 shares of the company’s stock valued at $60,000 after purchasing an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Duolingo during the second quarter valued at approximately $62,000. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Duolingo from $425.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Jefferies Financial Group upped their price objective on Duolingo from $210.00 to $220.00 and gave the stock a “hold” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. cut their target price on Duolingo from $300.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Morgan Stanley reduced their target price on shares of Duolingo from $275.00 to $245.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Finally, Truist Financial set a $245.00 price target on shares of Duolingo in a report on Thursday, January 15th. Eleven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Duolingo presently has an average rating of “Hold” and a consensus price target of $292.37.

Duolingo Trading Down 0.4%

Duolingo stock opened at $112.08 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.82 and a current ratio of 2.82. The stock has a market cap of $5.18 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.60 and a beta of 0.86. The stock has a 50-day moving average of $157.24 and a two-hundred day moving average of $236.53. Duolingo, Inc. has a one year low of $107.16 and a one year high of $544.93.

About Duolingo

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.