Lord Abbett & CO. LLC Increases Position in Duolingo, Inc. (NASDAQ:DUOL)

Lord Abbett & CO. LLC boosted its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 63.6% in the third quarter, Holdings Channel.com reports. The fund owned 197,670 shares of the company’s stock after acquiring an additional 76,875 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Duolingo were worth $55,747,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC increased its position in shares of Duolingo by 8.0% during the third quarter. Tidal Investments LLC now owns 1,561 shares of the company’s stock worth $440,000 after acquiring an additional 115 shares during the period. Sanctuary Advisors LLC purchased a new stake in Duolingo in the third quarter worth about $199,000. Geode Capital Management LLC increased its position in Duolingo by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 672,800 shares of the company’s stock valued at $189,790,000 after purchasing an additional 16,481 shares during the period. Barclays PLC lifted its position in shares of Duolingo by 90.9% in the 3rd quarter. Barclays PLC now owns 42,613 shares of the company’s stock worth $12,018,000 after purchasing an additional 20,289 shares during the period. Finally, MML Investors Services LLC purchased a new position in Duolingo during the third quarter valued at approximately $1,301,000. Institutional investors own 91.59% of the company’s stock.

Insider Activity at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $369.33, for a total value of $553,995.00. Following the sale, the insider now owns 132,239 shares in the company, valued at $48,839,829.87. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Severin Hacker sold 188,901 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $339.54, for a total value of $64,139,445.54. Following the sale, the insider now directly owns 72 shares in the company, valued at approximately $24,446.88. This trade represents a 99.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,220 shares of company stock worth $69,516,702 over the last three months. Company insiders own 18.30% of the company’s stock.

Duolingo Stock Down 0.4 %

Shares of DUOL stock opened at $338.07 on Friday. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $378.48. The firm has a market capitalization of $14.87 billion, a PE ratio of 184.74 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The stock’s 50-day simple moving average is $317.36 and its 200-day simple moving average is $245.80.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. The company had revenue of $192.59 million for the quarter, compared to the consensus estimate 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 in the prior year, the company earned $0.06 EPS. Equities analysts expect that Duolingo, Inc. will post 2.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DUOL. Seaport Res Ptn lowered Duolingo from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. DA Davidson boosted their target price on shares of Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, UBS Group lifted their price objective on shares of Duolingo from $355.00 to $408.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $352.40.

About Duolingo

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.