Cetera Investment Advisers Sells 2,465 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Cetera Investment Advisers lessened its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 22.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,656 shares of the company’s stock after selling 2,465 shares during the period. Cetera Investment Advisers’ holdings in Duolingo were worth $2,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DUOL. FMR LLC grew its stake in shares of Duolingo by 39.9% during the fourth quarter. FMR LLC now owns 3,726,561 shares of the company’s stock worth $1,208,263,000 after buying an additional 1,063,327 shares during the last quarter. Norges Bank bought a new stake in shares of Duolingo during the fourth quarter worth $152,296,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Duolingo by 548.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company’s stock worth $152,659,000 after buying an additional 398,259 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Duolingo by 53.5% during the fourth quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock worth $351,811,000 after purchasing an additional 378,225 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Duolingo by 36.6% during the fourth quarter. Marshall Wace LLP now owns 388,742 shares of the company’s stock worth $126,042,000 after purchasing an additional 104,114 shares during the period. Institutional investors own 91.59% of the company’s stock.

Insider Activity at Duolingo

In other Duolingo news, insider Natalie Glance sold 2,667 shares of Duolingo stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total value of $1,160,891.76. Following the completion of the sale, the insider now directly owns 129,572 shares of the company’s stock, valued at approximately $56,400,100.16. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction on Monday, May 5th. The shares were sold at an average price of $495.95, for a total transaction of $4,959,500.00. Following the completion of the sale, the insider now directly owns 72 shares of the company’s stock, valued at approximately $35,708.40. This trade represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,868 shares of company stock worth $38,594,200 over the last quarter. Company insiders own 15.67% of the company’s stock.

Duolingo Price Performance

DUOL stock opened at $529.05 on Friday. The firm has a market cap of $24.05 billion, a price-to-earnings ratio of 289.10 and a beta of 0.88. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $544.93. The company’s fifty day simple moving average is $367.70 and its 200 day simple moving average is $352.58.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Scotiabank lifted their price target on shares of Duolingo from $405.00 to $470.00 and gave the stock a “sector outperform” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of Duolingo from $360.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. DA Davidson lifted their price target on shares of Duolingo from $410.00 to $470.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Barclays lifted their price target on shares of Duolingo from $330.00 to $375.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Finally, Jefferies Financial Group assumed 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. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.29.

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.