Jennison Associates LLC Has $1.74 Million Position in Duolingo, Inc. $DUOL

by · The Markets Daily

Jennison Associates LLC boosted its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL – Free Report) by 171.4% during the second quarter, Holdings Channel reports. The institutional investor owned 4,234 shares of the company’s stock after acquiring an additional 2,674 shares during the quarter. Jennison Associates LLC’s holdings in Duolingo were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. New York Life Investment Management LLC boosted its stake in Duolingo by 0.7% during the second quarter. New York Life Investment Management LLC now owns 4,067 shares of the company’s stock worth $1,668,000 after buying an additional 30 shares in the last quarter. Equita Financial Network Inc. boosted its stake in Duolingo by 64.7% during the second quarter. Equita Financial Network Inc. now owns 1,341 shares of the company’s stock worth $550,000 after buying an additional 527 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Duolingo by 27.3% during the second quarter. Teacher Retirement System of Texas now owns 10,604 shares of the company’s stock worth $4,348,000 after buying an additional 2,274 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Duolingo by 795.4% during the second quarter. Y Intercept Hong Kong Ltd now owns 24,238 shares of the company’s stock worth $9,938,000 after buying an additional 21,531 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Duolingo by 780.7% during the second quarter. Bessemer Group Inc. now owns 731 shares of the company’s stock worth $299,000 after buying an additional 648 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DUOL shares. DA Davidson downgraded shares of Duolingo from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $500.00 to $300.00 in a research note on Thursday, September 4th. JMP Securities cut their price objective on Duolingo from $475.00 to $450.00 and set a “market outperform” rating for the company in a report on Monday, July 28th. Raymond James Financial reissued a “market perform” rating on shares of Duolingo in a report on Tuesday, August 26th. Citizens Jmp cut their price objective on Duolingo from $475.00 to $450.00 and set a “mkt outperform” rating for the company in a report on Monday, July 28th. Finally, Baird R W raised Duolingo to a “hold” rating in a report on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Duolingo presently has an average rating of “Hold” and an average price target of $414.05.

Get Our Latest Stock Report on DUOL

Insider Transactions at Duolingo

In related news, CFO Matthew Skaruppa sold 10,937 shares of Duolingo stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $317.39, for a total value of $3,471,294.43. Following the completion of the sale, the chief financial officer directly owned 43,345 shares in the company, valued at $13,757,269.55. This trade represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Meese sold 1,444 shares of Duolingo stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $329.03, for a total value of $475,119.32. Following the completion of the sale, the insider owned 120,080 shares of the company’s stock, valued at approximately $39,509,922.40. The trade was a 1.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 83,791 shares of company stock valued at $26,462,201. 15.67% of the stock is currently owned by insiders.

Duolingo Stock Performance

Duolingo stock opened at $270.64 on Friday. The stock has a 50-day simple moving average of $305.64 and a 200 day simple moving average of $380.07. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10. Duolingo, Inc. has a 12-month low of $256.63 and a 12-month high of $544.93. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 111.37, a P/E/G ratio of 1.78 and a beta of 0.86.

Duolingo (NASDAQ:DUOL – Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.36. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.The business had revenue of $252.27 million during the quarter, compared to analysts’ expectations of $240.84 million. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, research analysts anticipate that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

About Duolingo

(Free Report)

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.

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