Odyssean LLC Increases Stock Position in Duolingo, Inc. $DUOL

Odyssean LLC raised its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 67.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,340 shares of the company’s stock after acquiring an additional 4,990 shares during the period. Odyssean LLC’s holdings in Duolingo were worth $1,419,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in shares of 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 acquiring an additional 411 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Duolingo by 123.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,556 shares of the company’s stock worth $27,190,000 after purchasing an additional 48,451 shares during the period. Focus Partners Wealth increased its holdings in Duolingo by 28.3% in the 1st quarter. Focus Partners Wealth now owns 2,021 shares of the company’s stock valued at $628,000 after purchasing an additional 446 shares during the last quarter. Amundi increased its holdings in Duolingo by 142.1% in the 2nd quarter. Amundi now owns 26,075 shares of the company’s stock valued at $10,352,000 after purchasing an additional 15,306 shares during the last quarter. Finally, Gabelli Funds LLC purchased a new stake in Duolingo in the second quarter valued at approximately $205,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Duolingo news, insider Robert Meese sold 1,354 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $129.13, for a total value of $174,842.02. Following the sale, the insider directly owned 169,391 shares of the company’s stock, valued at approximately $21,873,459.83. This represents a 0.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalie Glance sold 2,751 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $129.13, for a total transaction of $355,236.63. Following the completion of the sale, the insider owned 170,650 shares in the company, valued at $22,036,034.50. The trade was a 1.59% 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. Insiders sold 6,668 shares of company stock worth $874,382 in the last 90 days. Corporate insiders own 16.62% of the company’s stock.

Duolingo Stock Performance

Shares of Duolingo stock opened at $146.04 on Wednesday. Duolingo, Inc. has a one year low of $87.89 and a one year high of $353.00. The company has a market cap of $6.83 billion, a PE ratio of 17.30, a P/E/G ratio of 1.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.72 and a current ratio of 2.72. The business has a 50-day simple moving average of $131.23 and a 200-day simple moving average of $114.84.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, August 5th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. The firm had revenue of $298.45 million for the quarter, compared to analyst estimates of $295.58 million. Duolingo had a net margin of 35.88% and a return on equity of 12.10%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, equities research analysts forecast that Duolingo, Inc. will post 2.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Craig Hallum cut Duolingo to a “hold” rating in a research note on Tuesday, August 18th. Wells Fargo & Company assumed coverage on Duolingo in a research note on Tuesday, August 18th. They issued an “overweight” rating for the company. Scotiabank set a $120.00 price objective on Duolingo in a report on Thursday, August 6th. Evercore set a $105.00 target price on Duolingo in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Duolingo from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $132.06.

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.