Envestnet Asset Management Inc. Sells 2,708 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Envestnet Asset Management Inc. lowered its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,490 shares of the company’s stock after selling 2,708 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Duolingo worth $9,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Duolingo by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 431,464 shares of the company’s stock valued at $133,987,000 after acquiring an additional 1,506 shares during the period. Catalyst Capital Advisors LLC increased its stake in Duolingo by 12.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 6,925 shares of the company’s stock worth $2,150,000 after buying an additional 775 shares during the period. Equita Financial Network Inc. purchased a new position in Duolingo in the 1st quarter worth about $253,000. Krane Funds Advisors LLC increased its stake in Duolingo by 99.8% in the 1st quarter. Krane Funds Advisors LLC now owns 1,672 shares of the company’s stock worth $519,000 after buying an additional 835 shares during the period. Finally, New York State Teachers Retirement System increased its position in Duolingo by 5.0% during the 1st quarter. New York State Teachers Retirement System now owns 31,215 shares of the company’s stock valued at $9,694,000 after purchasing an additional 1,499 shares during the period. Institutional investors own 91.59% of the company’s stock.

Duolingo Price Performance

Shares of NASDAQ DUOL opened at $355.85 on Tuesday. The firm has a market cap of $16.17 billion, a PE ratio of 175.30, a PEG ratio of 2.85 and a beta of 0.89. The firm has a fifty day moving average of $461.96 and a 200 day moving average of $390.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.68 and a current ratio of 2.68. Duolingo, Inc. has a one year low of $145.05 and a one year high of $544.93.

Duolingo (NASDAQ:DUOL) last released its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.20. Duolingo had a net margin of 11.93% and a return on equity of 11.70%. The business had revenue of $230.74 million during the quarter, compared to analyst estimates of $223.15 million. The business’s revenue was up 37.6% compared to the same quarter last year. As a group, research analysts predict that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DUOL. The Goldman Sachs Group raised their price target on shares of Duolingo from $340.00 to $403.00 and gave the company a “neutral” rating in a report on Monday, May 5th. DA Davidson lowered their price target on shares of Duolingo from $600.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, June 25th. JPMorgan Chase & Co. lowered their price target on shares of Duolingo from $580.00 to $500.00 and set an “overweight” rating on the stock in a report on Thursday, July 17th. Argus started coverage on shares of Duolingo in a report on Wednesday, June 25th. They issued a “buy” rating and a $575.00 price target on the stock. Finally, Evercore ISI boosted their target price on shares of Duolingo from $400.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.87.

Insider Transactions at Duolingo

In related news, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $392.89, for a total transaction of $3,928,900.00. Following the sale, the insider directly owned 72 shares in the company, valued at approximately $28,288.08. This represents a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Meese sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $395.00, for a total transaction of $1,975,000.00. Following the sale, the insider owned 118,805 shares in the company, valued at $46,927,975. The trade was a 4.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock valued at $24,502,900 in the last three months. 18.30% of the stock is currently 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.