Mackenzie Financial Corp Grows Stock Holdings in Duolingo, Inc. (NASDAQ:DUOL)

Mackenzie Financial Corp raised its stake in Duolingo, Inc. (NASDAQ:DUOL) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,543 shares of the company’s stock after buying an additional 736 shares during the period. Mackenzie Financial Corp’s holdings in Duolingo were worth $577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Duolingo in the third quarter valued at $432,000. Robeco Institutional Asset Management B.V. grew its stake in Duolingo by 27.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 5,546 shares of the company’s stock valued at $920,000 after acquiring an additional 1,206 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in Duolingo during the 3rd quarter valued at about $910,000. Bank of New York Mellon Corp raised its position in Duolingo by 22.9% during the third quarter. Bank of New York Mellon Corp now owns 127,709 shares of the company’s stock worth $21,183,000 after acquiring an additional 23,800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Duolingo by 27.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,507 shares of the company’s stock valued at $913,000 after purchasing an additional 1,192 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DUOL shares. UBS Group raised their price objective on shares of Duolingo from $230.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Barclays upped their price objective on Duolingo from $173.00 to $243.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group lifted 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. Needham & Company LLC boosted their target price on shares of Duolingo from $210.00 to $241.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. began coverage on shares of Duolingo in a research note on Monday, March 11th. They set an “overweight” rating and a $270.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $245.13.

Duolingo Stock Up 3.6 %

Shares of NASDAQ:DUOL opened at $222.66 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.03. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 654.90 and a beta of 0.83. The stock’s 50-day moving average price is $212.79 and its two-hundred day moving average price is $203.00. Duolingo, Inc. has a 12-month low of $116.82 and a 12-month high of $245.87.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, February 28th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. Duolingo had a net margin of 3.03% and a return on equity of 2.64%. The business had revenue of $150.99 million for the quarter, compared to analysts’ expectations of $146.98 million. On average, research analysts forecast that Duolingo, Inc. will post 1.38 EPS for the current year.

Insider Buying and Selling at Duolingo

In other news, CFO Matthew Skaruppa sold 8,000 shares of the company’s 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 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 legal filing with the SEC, which is available at this link. In other news, CEO Ahn Luis Von sold 22,023 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $220.26, for a total value of $4,850,785.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew Skaruppa sold 8,000 shares of the business’s stock in a transaction dated 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 owns 69,688 shares of the company’s stock, valued at approximately $12,451,154.96. The disclosure for this sale can be found here. Insiders have sold a total of 113,223 shares of company stock worth $23,682,665 in the last quarter. 19.85% of the stock is owned by insiders.

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.