490,935 Shares in Duolingo, Inc. $DUOL Purchased by Norges Bank

Norges Bank acquired a new position in Duolingo, Inc. (NASDAQ:DUOL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 490,935 shares of the company’s stock, valued at approximately $86,159,000. Norges Bank owned about 1.06% of Duolingo at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DUOL. NewEdge Advisors LLC boosted its holdings in Duolingo by 1,868.2% in the 1st quarter. NewEdge Advisors LLC now owns 433 shares of the company’s stock worth $134,000 after buying an additional 411 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Duolingo by 123.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,556 shares of the company’s stock worth $27,190,000 after buying an additional 48,451 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Duolingo by 28.3% during the 1st quarter. Focus Partners Wealth now owns 2,021 shares of the company’s stock worth $628,000 after purchasing an additional 446 shares during the last quarter. Amundi boosted its holdings in shares of Duolingo by 142.1% during the 2nd quarter. Amundi now owns 26,075 shares of the company’s stock worth $10,352,000 after purchasing an additional 15,306 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new position in shares of Duolingo during the 2nd quarter worth approximately $205,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Duolingo

In related news, insider Robert Meese sold 1,420 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $112.16, for a total value of $159,267.20. Following the transaction, the insider directly owned 170,745 shares in the company, valued at approximately $19,150,759.20. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalie Glance sold 3,360 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $113.59, for a total value of $381,662.40. Following the completion of the transaction, the insider owned 173,401 shares in the company, valued at $19,696,619.59. This represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 9,506 shares of company stock worth $1,073,864. Insiders own 16.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DUOL shares. Morgan Stanley lowered their target price on Duolingo from $100.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their target price on Duolingo from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Weiss Ratings cut Duolingo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Duolingo in a report on Tuesday, May 5th. Finally, Barclays lowered their target price on Duolingo from $230.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $195.94.

Duolingo Trading Down 0.1%

DUOL opened at $109.03 on Friday. Duolingo, Inc. has a one year low of $87.89 and a one year high of $540.30. The stock has a market capitalization of $5.08 billion, a PE ratio of 12.55, a P/E/G ratio of 0.69 and a beta of 0.89. The business’s 50 day moving average price is $103.65 and its 200 day moving average price is $131.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.62 and a current ratio of 2.62.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Monday, May 4th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Duolingo had a return on equity of 14.07% and a net margin of 38.44%.The firm had revenue of $291.97 million for the quarter, compared to analysts’ expectations of $288.60 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. As a group, equities research analysts expect that Duolingo, Inc. will post 3.39 EPS for the current year.

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.