Mirae Asset Global Investments Co. Ltd. Cuts Position in Duolingo, Inc. (NASDAQ:DUOL)

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,046 shares of the company’s stock after selling 1,014 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Duolingo were worth $2,959,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DUOL. Durable Capital Partners LP grew its holdings in Duolingo by 59.8% during the 1st quarter. Durable Capital Partners LP now owns 3,248,046 shares of the company’s stock valued at $308,922,000 after buying an additional 1,215,144 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Duolingo by 605.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,126,165 shares of the company’s stock valued at $98,596,000 after buying an additional 966,604 shares in the last quarter. Vanguard Group Inc. grew its holdings in Duolingo by 24.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,357,551 shares of the company’s stock valued at $224,510,000 after buying an additional 468,057 shares in the last quarter. Norges Bank purchased a new position in Duolingo during the 4th quarter valued at approximately $32,403,000. Finally, BlackRock Inc. grew its holdings in Duolingo by 95.6% during the 1st quarter. BlackRock Inc. now owns 822,978 shares of the company’s stock valued at $78,275,000 after buying an additional 402,222 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DUOL shares. Barclays lifted their target price on Duolingo from $173.00 to $243.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. The Goldman Sachs Group lifted their target price on Duolingo from $160.00 to $190.00 and gave the stock a “sell” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. started coverage on Duolingo in a report on Monday, March 11th. They issued an “overweight” rating and a $270.00 target price for the company. Bank of America lifted their target price on Duolingo from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, Piper Sandler lifted their target price on Duolingo from $217.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $245.13.

Duolingo Price Performance

Shares of DUOL stock opened at $194.66 on Thursday. Duolingo, Inc. has a 52-week low of $116.82 and a 52-week high of $245.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market capitalization of $8.35 billion, a P/E ratio of 572.53 and a beta of 0.83. The stock has a 50 day moving average price of $209.33 and a 200 day moving average price of $200.95.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. Duolingo had a return on equity of 2.64% and a net margin of 3.03%. The firm had revenue of $150.99 million during the quarter, compared to analyst estimates of $146.98 million. As a group, sell-side analysts predict that Duolingo, Inc. will post 1.38 earnings per share for the current year.

Insider Buying and Selling at Duolingo

In other Duolingo news, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $178.62, for a total transaction of $1,786,200.00. Following the completion of the sale, the insider now directly owns 72 shares of the company’s stock, valued at approximately $12,860.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Duolingo news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $180.07, for a total transaction of $270,105.00. Following the completion of the sale, the insider now directly owns 129,188 shares of the company’s stock, valued at approximately $23,262,883.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $178.62, for a total value of $1,786,200.00. Following the sale, the insider now directly owns 72 shares of the company’s stock, valued at $12,860.64. The disclosure for this sale can be found here. Insiders sold a total of 113,223 shares of company stock valued at $23,682,665 in the last ninety days. Corporate insiders own 19.85% of the company’s stock.

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.