Fred Alger Management LLC Sells 3,727 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Fred Alger Management LLC trimmed its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 25.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,070 shares of the company’s stock after selling 3,727 shares during the period. Fred Alger Management LLC’s holdings in Duolingo were worth $3,589,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DUOL. Quarry LP grew its stake in Duolingo by 250.0% in the fourth quarter. Quarry LP now owns 91 shares of the company’s stock valued at $30,000 after purchasing an additional 65 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Duolingo in the fourth quarter valued at $31,000. Harvest Fund Management Co. Ltd grew its stake in shares of Duolingo by 5,050.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock valued at $33,000 after buying an additional 101 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Duolingo by 1,255.6% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock worth $40,000 after buying an additional 113 shares during the last quarter. Finally, Smithfield Trust Co raised its position in Duolingo by 41.8% during the fourth quarter. Smithfield Trust Co now owns 156 shares of the company’s stock worth $51,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on DUOL shares. Citizens Jmp upgraded shares of Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 price objective on the stock in a research note on Tuesday, March 18th. Needham & Company LLC boosted their price target on Duolingo from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Scotiabank raised their price objective on Duolingo from $405.00 to $470.00 and gave the company a “sector outperform” rating in a research report on Friday, May 2nd. UBS Group boosted their target price on Duolingo from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Morgan Stanley increased their price target on Duolingo from $435.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $426.29.

Duolingo Stock Up 1.9 %

NASDAQ DUOL opened at $512.97 on Friday. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The company has a market cap of $23.21 billion, a price-to-earnings ratio of 280.31 and a beta of 0.88. The company has a 50 day moving average of $342.98 and a 200-day moving average of $343.86. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $513.87.

Duolingo (NASDAQ:DUOL) last released its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.20. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The firm had revenue of $230.74 million during the quarter, compared to the consensus estimate of $223.15 million. Duolingo’s revenue was up 37.6% on a year-over-year basis. On average, equities research analysts expect that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Duolingo news, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $495.95, for a total transaction of $4,959,500.00. Following the completion of the transaction, the insider now directly owns 72 shares in the company, valued at $35,708.40. The trade was a 99.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stephen C. Chen sold 2,064 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total value of $898,087.68. Following the completion of the sale, the general counsel now directly owns 34,634 shares in the company, valued at approximately $15,069,946.08. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,868 shares of company stock worth $38,594,200 over the last ninety days. Corporate insiders own 18.30% of the company’s stock.

Duolingo 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.