KLP Kapitalforvaltning AS Makes New $2.24 Million Investment in Duolingo, Inc. (NASDAQ:DUOL)

KLP Kapitalforvaltning AS purchased a new stake in Duolingo, Inc. (NASDAQ:DUOL) during the 4th quarter, HoldingsChannel reports. The fund purchased 6,900 shares of the company’s stock, valued at approximately $2,237,000.

A number of other institutional investors also recently modified their holdings of the business. True Wealth Design LLC purchased a new position in Duolingo in the 3rd quarter valued at approximately $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Duolingo in the fourth quarter valued at $31,000. Harvest Fund Management Co. Ltd raised its stake in shares of Duolingo by 5,050.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock valued at $33,000 after purchasing an additional 101 shares during the period. Global Retirement Partners LLC lifted its holdings in Duolingo by 1,255.6% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock worth $40,000 after purchasing an additional 113 shares in the last quarter. Finally, Smithfield Trust Co boosted its stake in Duolingo by 41.8% in the 4th quarter. Smithfield Trust Co now owns 156 shares of the company’s stock worth $51,000 after purchasing an additional 46 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Duolingo Price Performance

DUOL opened at $332.94 on Friday. The stock has a market capitalization of $15.06 billion, a P/E ratio of 181.94 and a beta of 0.92. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $441.77. The stock has a 50-day moving average price of $348.46 and a 200-day moving average price of $322.38.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.19). The firm had revenue of $209.55 million during the quarter, compared to analysts’ expectations of $205.49 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. Equities analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Activity at Duolingo

In other news, insider Natalie Glance sold 2,667 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $435.28, for a total transaction of $1,160,891.76. Following the transaction, the insider now directly owns 129,572 shares of the company’s stock, valued at approximately $56,400,100.16. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Skaruppa sold 5,000 shares of Duolingo stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $324.48, for a total value of $1,622,400.00. Following the completion of the transaction, the chief financial officer now owns 67,730 shares in the company, valued at approximately $21,977,030.40. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,850 shares of company stock valued at $34,389,695. Insiders own 18.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DUOL. JMP Securities reiterated a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their target price on shares of Duolingo from $400.00 to $410.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. The Goldman Sachs Group raised their price target on shares of Duolingo from $275.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Needham & Company LLC increased their price objective on Duolingo from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Bank of America lowered Duolingo from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $355.00 to $375.00 in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.08.

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.