First Horizon Advisors Inc. Makes New $29,000 Investment in Duolingo, Inc. (NASDAQ:DUOL)

First Horizon Advisors Inc. purchased a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL) in the third quarter, HoldingsChannel reports. The institutional investor purchased 103 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dragoneer Investment Group LLC bought a new stake in Duolingo during the second quarter valued at approximately $204,768,000. International Assets Investment Management LLC lifted its holdings in shares of Duolingo by 30,909.9% during the 3rd quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock worth $100,135,000 after acquiring an additional 353,918 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Duolingo by 153.1% in the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock valued at $82,450,000 after acquiring an additional 238,990 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Duolingo by 73.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock valued at $80,459,000 after purchasing an additional 154,659 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new stake in Duolingo during the second quarter worth about $26,919,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Duolingo Stock Down 1.1 %

Shares of NASDAQ:DUOL opened at $348.00 on Tuesday. The stock’s 50-day moving average is $294.74 and its 200 day moving average is $229.12. The company has a market cap of $15.31 billion, a PE ratio of 190.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. Duolingo, Inc. has a 1 year low of $145.05 and a 1 year high of $364.95.

Duolingo (NASDAQ:DUOL) last posted its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. The firm had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business’s revenue was up 39.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 earnings per share. Sell-side analysts anticipate that Duolingo, Inc. will post 2.02 EPS for the current year.

Insider Buying and Selling at Duolingo

In other Duolingo news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $313.36, for a total transaction of $470,040.00. Following the sale, the insider now directly owns 136,760 shares of the company’s stock, valued at approximately $42,855,113.60. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew Skaruppa sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.44, for a total value of $2,904,160.00. Following the transaction, the chief financial officer now owns 88,856 shares in the company, valued at $18,432,288.64. This trade represents a 13.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,783 shares of company stock valued at $12,156,296. 18.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DUOL has been the topic of several recent research reports. Evercore ISI upgraded Duolingo to a “strong-buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group boosted their price objective on shares of Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Barclays boosted their price target on shares of Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Duolingo from $303.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Duolingo has a consensus rating of “Moderate Buy” and a consensus price target of $331.33.

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.