Bank of America Corp DE Has $51.95 Million Stock Holdings in Duolingo, Inc. (NASDAQ:DUOL)

Bank of America Corp DE boosted its position in Duolingo, Inc. (NASDAQ:DUOL) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,239 shares of the company’s stock after acquiring an additional 30,438 shares during the quarter. Bank of America Corp DE’s holdings in Duolingo were worth $51,954,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DUOL. Barclays PLC boosted its stake in Duolingo by 90.9% in the third quarter. Barclays PLC now owns 42,613 shares of the company’s stock valued at $12,018,000 after buying an additional 20,289 shares in the last quarter. Oak Thistle LLC acquired a new position in Duolingo during the 4th quarter worth approximately $245,000. Merit Financial Group LLC lifted its stake in Duolingo by 8.6% in the 4th quarter. Merit Financial Group LLC now owns 8,642 shares of the company’s stock valued at $2,802,000 after purchasing an additional 683 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in shares of Duolingo during the fourth quarter worth $683,000. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Duolingo by 6.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 2,908 shares of the company’s stock valued at $943,000 after acquiring an additional 168 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on DUOL shares. DA Davidson lifted their price target on Duolingo from $410.00 to $470.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Jefferies Financial Group started coverage on shares of Duolingo in a report on Friday, January 24th. They set a “hold” rating and a $370.00 price target on the stock. Morgan Stanley increased their price objective on Duolingo from $435.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Scotiabank raised their target price on Duolingo from $405.00 to $470.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 2nd. Finally, UBS Group upped their price target on Duolingo from $400.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and nine 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 an average price target of $426.29.

Duolingo Stock Performance

DUOL stock opened at $531.46 on Wednesday. The firm has a market cap of $24.16 billion, a PE ratio of 290.42 and a beta of 0.88. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $352.65 and a 200-day moving average price of $347.61. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $544.00.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.20. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business had revenue of $230.74 million during the quarter, compared to the consensus estimate of $223.15 million. Duolingo’s revenue was up 37.6% on a year-over-year basis. As a group, equities research analysts expect that Duolingo, Inc. will post 2.03 earnings per share for the current year.

Insider Activity

In other Duolingo news, General Counsel Stephen C. Chen sold 2,064 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total value of $898,087.68. Following the transaction, the general counsel now directly owns 34,634 shares of the company’s stock, valued at approximately $15,069,946.08. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ahn Luis Von sold 8,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $434.79, for a total transaction of $3,478,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,868 shares of company stock worth $38,594,200. Company insiders own 15.67% of the company’s stock.

Duolingo Profile

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.