BIT Capital GmbH Increases Stake in Duolingo, Inc. $DUOL

BIT Capital GmbH grew its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 434.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,367 shares of the company’s stock after acquiring an additional 109,211 shares during the period. Duolingo accounts for 1.5% of BIT Capital GmbH’s portfolio, making the stock its 24th largest holding. BIT Capital GmbH owned 0.29% of Duolingo worth $43,245,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Duolingo by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,647,951 shares of the company’s stock worth $1,495,733,000 after purchasing an additional 116,135 shares during the period. Baillie Gifford & Co. raised its stake in shares of Duolingo by 28.6% in the third quarter. Baillie Gifford & Co. now owns 2,827,834 shares of the company’s stock worth $910,110,000 after buying an additional 628,943 shares during the period. State Street Corp raised its stake in shares of Duolingo by 0.5% in the second quarter. State Street Corp now owns 1,164,387 shares of the company’s stock worth $477,422,000 after buying an additional 6,109 shares during the period. Geode Capital Management LLC lifted its position in shares of Duolingo by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 759,956 shares of the company’s stock valued at $311,930,000 after buying an additional 23,356 shares in the last quarter. Finally, Norges Bank purchased a new stake in Duolingo in the 2nd quarter worth approximately $192,965,000. Institutional investors own 91.59% of the company’s stock.

Duolingo Stock Performance

NASDAQ:DUOL opened at $111.11 on Friday. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.60 and a beta of 0.86. Duolingo, Inc. has a 1 year low of $107.16 and a 1 year high of $544.93. The stock’s 50 day simple moving average is $153.74 and its two-hundred day simple moving average is $234.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.82 and a quick ratio of 2.82.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DUOL. Bank of America upgraded shares of Duolingo from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $301.00 to $250.00 in a research report on Monday, January 5th. JPMorgan Chase & Co. decreased their price target on Duolingo from $300.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Jefferies Financial Group boosted their price objective on Duolingo from $210.00 to $220.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Barclays cut their target price on Duolingo from $390.00 to $230.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Finally, BMO Capital Markets raised Duolingo to a “buy” rating in a report on Monday, January 12th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $292.37.

Duolingo Company Profile

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.