Entropy Technologies LP Invests $233,000 in Duolingo, Inc. (NASDAQ:DUOL)

Entropy Technologies LP bought a new position in shares of Duolingo, Inc. (NASDAQ:DUOL) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 826 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds have also added to or reduced their stakes in the company. Dragoneer Investment Group LLC acquired a new position in Duolingo in the 2nd quarter valued at $204,768,000. International Assets Investment Management LLC grew its stake in shares of Duolingo by 30,909.9% in the third quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock valued at $100,135,000 after acquiring an additional 353,918 shares in the last quarter. Whale Rock Capital Management LLC increased its position in Duolingo by 23.9% during the first quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock worth $281,281,000 after acquiring an additional 245,599 shares during the period. Bank of New York Mellon Corp raised its stake in Duolingo by 153.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock worth $82,450,000 after purchasing an additional 238,990 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Duolingo by 73.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after purchasing an additional 154,659 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DUOL has been the topic of several recent research reports. DA Davidson raised their target price on shares of Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI raised Duolingo to a “strong-buy” rating in a report on Monday, August 5th. Barclays increased their target price on Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. JMP Securities lowered shares of Duolingo from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th. Finally, Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Duolingo presently has an average rating of “Moderate Buy” and an average target price of $331.33.

Duolingo Stock Performance

NASDAQ DUOL opened at $307.32 on Friday. The firm’s fifty day moving average price is $281.68 and its two-hundred day moving average price is $224.95. The stock has a market cap of $13.38 billion, a PE ratio of 167.93 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $330.61.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business had revenue of $192.59 million for the quarter, compared to analyst estimates of $189.19 million. During the same quarter in the previous year, the company posted $0.06 EPS. Duolingo’s quarterly revenue was up 39.9% compared to the same quarter last year. On average, equities analysts expect that Duolingo, Inc. will post 2.02 EPS for the current fiscal year.

Insider Activity

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.51, for a total transaction of $311,265.00. Following the sale, the insider now directly owns 139,760 shares of the company’s stock, valued at $29,001,597.60. The trade was a 1.06 % 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 17,591 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at $18,417,183.12. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,374 shares of company stock valued at $15,802,382 over the last quarter. 18.30% of the stock is owned by company insiders.

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.