Allspring Global Investments Holdings LLC Sells 11,254 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Allspring Global Investments Holdings LLC cut its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,840 shares of the company’s stock after selling 11,254 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Duolingo were worth $14,028,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Bamco Inc. NY bought a new stake in shares of Duolingo during the 3rd quarter worth about $39,000. FSC Wealth Advisors LLC acquired a new stake in Duolingo in the 4th quarter worth approximately $39,000. Captrust Financial Advisors boosted its position in Duolingo by 620.8% during the first quarter. Captrust Financial Advisors now owns 555 shares of the company’s stock worth $53,000 after purchasing an additional 478 shares during the period. Lazard Asset Management LLC acquired a new position in Duolingo during the fourth quarter valued at approximately $58,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Duolingo during the second quarter valued at approximately $111,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on DUOL shares. JPMorgan Chase & Co. initiated coverage on shares of Duolingo in a report on Monday, March 11th. They set an “overweight” rating and a $270.00 price objective for the company. Piper Sandler raised their price target on Duolingo from $217.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group boosted their price objective on Duolingo from $160.00 to $190.00 and gave the stock a “sell” rating in a research report on Thursday, February 29th. Seaport Res Ptn restated a “buy” rating on shares of Duolingo in a research note on Tuesday, February 27th. Finally, UBS Group upped their price target on Duolingo from $230.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Duolingo has an average rating of “Hold” and a consensus target price of $245.13.

Duolingo Stock Performance

Shares of NASDAQ DUOL opened at $195.56 on Tuesday. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 575.19 and a beta of 0.84. Duolingo, Inc. has a one year low of $116.82 and a one year high of $245.87. The business has a fifty day simple moving average of $208.71 and a 200 day simple moving average of $200.77. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.03.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. Duolingo had a net margin of 3.03% and a return on equity of 2.64%. The company had revenue of $150.99 million during the quarter, compared to the consensus estimate of $146.98 million. Sell-side analysts expect that Duolingo, Inc. will post 1.38 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Matthew Skaruppa sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $178.67, for a total value of $1,429,360.00. Following the sale, the chief financial officer now directly owns 69,688 shares in the company, valued at approximately $12,451,154.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Duolingo news, CFO Matthew Skaruppa sold 8,000 shares of Duolingo stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $178.67, for a total transaction of $1,429,360.00. Following the completion of the transaction, the chief financial officer now directly owns 69,688 shares of the company’s stock, valued at $12,451,154.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ahn Luis Von sold 22,023 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $220.26, for a total transaction of $4,850,785.98. The disclosure for this sale can be found here. Insiders sold a total of 113,223 shares of company stock worth $23,682,665 over the last quarter. Company insiders own 19.85% of the company’s stock.

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.