Bank of New York Mellon Corp Increases Stake in Duolingo, Inc. $DUOL

Bank of New York Mellon Corp grew its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 2.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 249,634 shares of the company’s stock after acquiring an additional 6,233 shares during the period. Bank of New York Mellon Corp’s holdings in Duolingo were worth $24,606,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. EFG International AG purchased a new position in shares of Duolingo in the 4th quarter valued at approximately $26,000. Globeflex Capital L P purchased a new stake in Duolingo in the second quarter worth $77,000. AlphaCentric Advisors LLC purchased a new stake in Duolingo in the fourth quarter worth $33,000. Banque Cantonale Vaudoise bought a new position in Duolingo in the third quarter worth $70,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Duolingo in the second quarter worth $89,000. Institutional investors own 91.59% of the company’s stock.

Insider Buying and Selling at Duolingo

In other Duolingo news, insider Robert Meese sold 1,420 shares of Duolingo stock in a transaction on Friday, May 15th. The stock was sold at an average price of $112.16, for a total value of $159,267.20. Following the completion of the sale, the insider owned 170,745 shares of the company’s stock, valued at approximately $19,150,759.20. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalie Glance sold 3,360 shares of Duolingo stock in a transaction on Monday, May 18th. The stock was sold at an average price of $113.59, for a total value of $381,662.40. Following the completion of the sale, the insider directly owned 173,401 shares of the company’s stock, valued at approximately $19,696,619.59. The trade was a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 9,506 shares of company stock worth $1,073,864. Insiders own 16.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on DUOL. Morgan Stanley boosted their target price on shares of Duolingo from $95.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Evercore set a $97.00 price target on shares of Duolingo in a research note on Tuesday, May 5th. JPMorgan Chase & Co. lifted their price target on shares of Duolingo from $94.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. UBS Group reissued a “neutral” rating on shares of Duolingo in a research note on Wednesday, June 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Duolingo in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $150.53.

Duolingo Trading Up 8.7%

Shares of NASDAQ DUOL opened at $132.82 on Tuesday. The firm’s 50 day moving average price is $121.01 and its 200-day moving average price is $116.64. Duolingo, Inc. has a 52-week low of $87.89 and a 52-week high of $468.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.62 and a current ratio of 2.62. The company has a market cap of $6.19 billion, a PE ratio of 15.28, a P/E/G ratio of 0.93 and a beta of 0.88.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Duolingo had a net margin of 38.44% and a return on equity of 14.07%. The company had revenue of $291.97 million during the quarter, compared to the consensus estimate of $288.60 million. During the same quarter last year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, equities research analysts expect that Duolingo, Inc. will post 2.81 EPS for the current fiscal year.

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.