Mirae Asset Global Investments Co. Ltd. Purchases 6,236 Shares of Duolingo, Inc. $DUOL

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 965.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,882 shares of the company’s stock after acquiring an additional 6,236 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Duolingo were worth $2,822,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Invesco Ltd. boosted its position in shares of Duolingo by 24.1% during the 1st quarter. Invesco Ltd. now owns 1,346,278 shares of the company’s stock valued at $418,073,000 after acquiring an additional 261,212 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Duolingo by 110.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company’s stock valued at $307,716,000 after acquiring an additional 520,069 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Duolingo by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 431,464 shares of the company’s stock valued at $133,987,000 after acquiring an additional 1,506 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Duolingo by 23.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 214,594 shares of the company’s stock valued at $66,640,000 after acquiring an additional 40,812 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Duolingo by 123.8% in the first quarter. AQR Capital Management LLC now owns 201,692 shares of the company’s stock valued at $61,478,000 after acquiring an additional 111,589 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DUOL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Duolingo in a report on Saturday, September 27th. Argus assumed coverage on shares of Duolingo in a research report on Wednesday, June 25th. They issued a “buy” rating and a $575.00 price objective for the company. Zacks Research raised Duolingo from a “hold” rating to a “strong-buy” rating in a report on Monday, September 8th. Citigroup reduced their target price on shares of Duolingo from $400.00 to $375.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Finally, Wall Street Zen cut Duolingo from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Duolingo has an average rating of “Moderate Buy” and a consensus target price of $419.32.

Insiders Place Their Bets

In other news, CFO Matthew Skaruppa sold 10,937 shares of Duolingo stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $317.39, for a total value of $3,471,294.43. Following the sale, the chief financial officer directly owned 43,345 shares in the company, valued at $13,757,269.55. This trade represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Meese sold 1,444 shares of Duolingo stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $329.03, for a total transaction of $475,119.32. Following the completion of the sale, the insider owned 120,080 shares in the company, valued at $39,509,922.40. This trade represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,791 shares of company stock worth $26,918,301 in the last 90 days. Company insiders own 18.30% of the company’s stock.

Duolingo Price Performance

NASDAQ DUOL opened at $319.98 on Wednesday. The business has a 50 day simple moving average of $316.85 and a 200 day simple moving average of $380.56. Duolingo, Inc. has a 52-week low of $256.63 and a 52-week high of $544.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.81 and a current ratio of 2.81. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 131.68, a PEG ratio of 2.14 and a beta of 0.86.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.36. Duolingo had a net margin of 13.24% and a return on equity of 13.32%. The company had revenue of $252.27 million during the quarter, compared to the consensus estimate of $240.84 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue was up 41.5% compared to the same quarter last year. Analysts anticipate that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal 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.