New Mexico Educational Retirement Board Takes Position in Duolingo, Inc. (NASDAQ:DUOL)

New Mexico Educational Retirement Board acquired a new position in shares of Duolingo, Inc. (NASDAQ:DUOL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,400 shares of the company’s stock, valued at approximately $1,544,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Duolingo in the fourth quarter valued at approximately $84,042,000. Whale Rock Capital Management LLC increased its position in shares of Duolingo by 23.9% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after buying an additional 245,599 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Duolingo by 153.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock valued at $82,450,000 after buying an additional 238,990 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Duolingo by 73.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after buying an additional 154,659 shares during the period. Finally, AGF Management Ltd. grew its stake in Duolingo by 248.2% in the fourth quarter. AGF Management Ltd. now owns 208,892 shares of the company’s stock valued at $47,387,000 after acquiring an additional 148,892 shares during the period. Institutional investors own 91.59% of the company’s stock.

Duolingo Stock Down 1.0 %

Shares of DUOL stock opened at $208.26 on Friday. The firm’s fifty day moving average price is $189.82 and its two-hundred day moving average price is $201.49. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. Duolingo, Inc. has a 1 year low of $140.16 and a 1 year high of $251.30. The firm has a market capitalization of $8.98 billion, a P/E ratio of 214.70 and a beta of 0.76.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The business had revenue of $178.30 million for the quarter, compared to the consensus estimate of $177.13 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. Duolingo’s quarterly revenue was up 40.6% on a year-over-year basis. On average, equities analysts predict that Duolingo, Inc. will post 1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Matthew Skaruppa sold 14,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.44, for a total value of $2,904,160.00. Following the completion of the sale, the chief financial officer now owns 88,856 shares of the company’s stock, valued at approximately $18,432,288.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Ahn Luis Von sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $215.00, for a total value of $215,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Skaruppa sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.44, for a total value of $2,904,160.00. Following the transaction, the chief financial officer now directly owns 88,856 shares in the company, valued at approximately $18,432,288.64. The disclosure for this sale can be found here. Insiders have sold 91,055 shares of company stock valued at $17,991,606 in the last 90 days. 18.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on Duolingo from $275.00 to $255.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Evercore ISI upgraded shares of Duolingo to a “strong-buy” rating in a report on Monday, August 5th. Piper Sandler reiterated an “overweight” rating and issued a $271.00 price target on shares of Duolingo in a report on Friday, August 30th. Needham & Company LLC lowered their price objective on shares of Duolingo from $267.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Bank of America raised shares of Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 price objective on the stock in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Duolingo currently has a consensus rating of “Moderate Buy” and an average target price of $237.40.

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.