WT Asset Management Ltd Purchases New Stake in Duolingo, Inc. (NASDAQ:DUOL)

WT Asset Management Ltd acquired a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL) during the fourth quarter, Holdings Channel reports. The fund acquired 62,500 shares of the company’s stock, valued at approximately $20,264,000. Duolingo comprises about 2.2% of WT Asset Management Ltd’s portfolio, making the stock its 12th biggest position.

Several other hedge funds also recently added to or reduced their stakes in DUOL. Creative Planning increased its holdings in shares of Duolingo by 37.0% in the 2nd quarter. Creative Planning now owns 3,932 shares of the company’s stock valued at $820,000 after acquiring an additional 1,061 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Duolingo in the third quarter worth $532,000. Handelsbanken Fonder AB increased its stake in Duolingo by 33.3% during the third quarter. Handelsbanken Fonder AB now owns 10,000 shares of the company’s stock valued at $2,820,000 after purchasing an additional 2,500 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Duolingo by 108.2% during the third quarter. GAMMA Investing LLC now owns 356 shares of the company’s stock worth $100,000 after purchasing an additional 185 shares during the period. Finally, CWM LLC lifted its position in shares of Duolingo by 15.3% in the 3rd quarter. CWM LLC now owns 10,668 shares of the company’s stock worth $3,008,000 after buying an additional 1,414 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Seaport Res Ptn downgraded shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their target price on Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on Duolingo from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Piper Sandler upped their price objective on Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Scotiabank assumed coverage on Duolingo in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $355.55.

Insider Activity

In other news, CEO Ahn Luis Von sold 41,759 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $340.29, for a total transaction of $14,210,170.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Severin Hacker sold 188,901 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $339.54, for a total transaction of $64,139,445.54. Following the completion of the sale, the insider now owns 72 shares in the company, valued at $24,446.88. The trade was a 99.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,624 shares of company stock worth $94,563,698 over the last three months. Corporate insiders own 18.30% of the company’s stock.

Duolingo Price Performance

Shares of NASDAQ DUOL opened at $386.16 on Wednesday. The stock has a market cap of $16.99 billion, a P/E ratio of 211.02 and a beta of 0.89. The firm’s 50-day simple moving average is $342.29 and its 200 day simple moving average is $283.15. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $387.88. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.35 by $0.14. The firm had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. Duolingo’s quarterly revenue was up 39.9% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. Equities analysts expect that Duolingo, Inc. will post 2.03 EPS for the current year.

Duolingo Company 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.