SummitTX Capital L.P. Grows Stake in Duolingo, Inc. $DUOL

SummitTX Capital L.P. raised its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 286.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,173 shares of the company’s stock after purchasing an additional 9,024 shares during the period. SummitTX Capital L.P.’s holdings in Duolingo were worth $1,200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Baillie Gifford & Co. increased its position in Duolingo by 71.9% during the 4th quarter. Baillie Gifford & Co. now owns 4,861,445 shares of the company’s stock valued at $853,184,000 after buying an additional 2,033,611 shares in the last quarter. Capital World Investors grew its stake in shares of Duolingo by 0.5% during the fourth quarter. Capital World Investors now owns 2,241,378 shares of the company’s stock worth $393,362,000 after acquiring an additional 11,140 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Duolingo by 112.9% during the first quarter. State of Michigan Retirement System now owns 1,193,307 shares of the company’s stock worth $117,624,000 after acquiring an additional 632,807 shares during the last quarter. State Street Corp increased its holdings in shares of Duolingo by 0.5% during the second quarter. State Street Corp now owns 1,164,387 shares of the company’s stock valued at $477,422,000 after acquiring an additional 6,109 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its position in shares of Duolingo by 1.0% in the 4th quarter. Whale Rock Capital Management LLC now owns 876,646 shares of the company’s stock valued at $153,851,000 after purchasing an additional 8,477 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on DUOL shares. UBS Group reiterated a “neutral” rating on shares of Duolingo in a research note on Wednesday, June 17th. Jefferies Financial Group upped their price target on shares of Duolingo from $95.00 to $125.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. KeyCorp reiterated a “sector weight” rating on shares of Duolingo in a research note on Thursday, June 4th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Duolingo in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lifted their price target on Duolingo from $94.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $152.29.

Duolingo Trading Down 0.4%

Shares of Duolingo stock opened at $140.17 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.62 and a quick ratio of 2.62. The firm has a fifty day moving average price of $122.21 and a 200 day moving average price of $116.16. Duolingo, Inc. has a 1 year low of $87.89 and a 1 year high of $468.00. The stock has a market cap of $6.53 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.08 and a beta of 0.88.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $291.97 million for the quarter, compared to analyst estimates of $288.60 million. Duolingo had a net margin of 38.44% and a return on equity of 14.07%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 earnings per share. Equities research analysts predict that Duolingo, Inc. will post 2.81 earnings per share for the current year.

Insider Activity at Duolingo

In other Duolingo news, General Counsel Stephen C. Chen sold 1,977 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $113.61, for a total value of $224,606.97. Following the sale, the general counsel owned 52,807 shares in the company, valued at approximately $5,999,403.27. This represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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. Also, insider Robert Meese sold 1,420 shares of Duolingo stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $112.16, for a total transaction of $159,267.20. Following the transaction, the insider directly owned 170,745 shares of the company’s stock, valued at approximately $19,150,759.20. This trade represents a 0.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 9,506 shares of company stock worth $1,073,864. 16.62% of the stock is owned by corporate insiders.

Duolingo Profile

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.