PNC Financial Services Group Inc. Grows Stock Position in Duolingo, Inc. (NASDAQ:DUOL)

PNC Financial Services Group Inc. grew its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 5.8% during the third quarter, HoldingsChannel reports. The firm owned 5,118 shares of the company’s stock after buying an additional 280 shares during the period. PNC Financial Services Group Inc.’s holdings in Duolingo were worth $1,443,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DUOL. Pathstone Holdings LLC increased its stake in Duolingo by 15.3% during the 3rd quarter. Pathstone Holdings LLC now owns 5,242 shares of the company’s stock worth $1,478,000 after buying an additional 694 shares during the period. Quest Partners LLC acquired a new stake in shares of Duolingo during the third quarter valued at about $105,000. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in shares of Duolingo during the third quarter worth about $3,317,000. Mount Lucas Management LP lifted its stake in shares of Duolingo by 2.4% in the third quarter. Mount Lucas Management LP now owns 1,340 shares of the company’s stock worth $378,000 after acquiring an additional 32 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Duolingo by 3.1% in the third quarter. CIBC Asset Management Inc now owns 1,061 shares of the company’s stock valued at $299,000 after purchasing an additional 32 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Duolingo

In related news, CFO Matthew Skaruppa sold 14,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at $18,432,288.64. This represents a 13.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Stephen C. Chen sold 19,464 shares of Duolingo stock in a transaction on Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the sale, the general counsel now directly owns 35,558 shares in the company, valued at $7,522,294.90. The trade was a 35.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,783 shares of company stock worth $12,156,296. 18.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Bank of America lifted their price objective on Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Evercore ISI upgraded shares of Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. Piper Sandler boosted their target price on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Barclays upped their target price on shares of Duolingo from $183.00 to $295.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on Duolingo from $303.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Five investment 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 company’s stock. Based on data from MarketBeat, Duolingo presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.33.

Duolingo Trading Up 1.6 %

NASDAQ:DUOL opened at $353.53 on Wednesday. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $364.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. The business has a 50 day simple moving average of $294.74 and a 200 day simple moving average of $229.12. The firm has a market capitalization of $15.55 billion, a P/E ratio of 193.19 and a beta of 0.79.

Duolingo (NASDAQ:DUOL) last announced its quarterly 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. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The company had revenue of $192.59 million during the quarter, compared to the consensus estimate of $189.19 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 39.9% compared to the same quarter last year. Equities research analysts predict that Duolingo, Inc. will post 2.02 EPS for the current year.

Duolingo Company 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.