Sycomore Asset Management Cuts Stock Position in Duolingo, Inc. (NASDAQ:DUOL)

Sycomore Asset Management decreased its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 15.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,538 shares of the company’s stock after selling 7,027 shares during the period. Duolingo makes up approximately 1.6% of Sycomore Asset Management’s investment portfolio, making the stock its 20th biggest position. Sycomore Asset Management owned 0.09% of Duolingo worth $10,990,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Duolingo by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock valued at $747,200,000 after acquiring an additional 67,004 shares in the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of Duolingo by 23.9% during the 1st 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 in the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Duolingo during the 2nd quarter worth about $204,768,000. American Century Companies Inc. raised its position in shares of Duolingo by 25.1% during the 2nd quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock worth $104,117,000 after purchasing an additional 100,167 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Duolingo by 153.1% during 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 during the last quarter. Institutional investors own 91.59% of the company’s stock.

Duolingo Price Performance

Shares of NASDAQ:DUOL traded down $0.41 during trading hours on Thursday, hitting $323.02. 90,713 shares of the company’s stock traded hands, compared to its average volume of 697,438. Duolingo, Inc. has a 52 week low of $145.05 and a 52 week high of $330.61. The company’s fifty day simple moving average is $277.45 and its two-hundred day simple moving average is $223.72. The company has a market cap of $14.06 billion, a price-to-earnings ratio of 173.93 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 (NASDAQ:DUOL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. The business had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm’s quarterly revenue was up 39.9% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. As a group, equities analysts anticipate that Duolingo, Inc. will post 2.02 EPS for the current fiscal year.

Analyst Ratings Changes

DUOL has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Evercore ISI upgraded shares of Duolingo to a “strong-buy” rating in a report on Monday, August 5th. The Goldman Sachs Group increased their price objective on shares of Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. DA Davidson increased their price objective on shares of Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Seaport Res Ptn cut shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Five investment 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. According to MarketBeat, Duolingo has an average rating of “Moderate Buy” and a consensus target price of $331.33.

Insiders Place Their Bets

In related news, General Counsel Stephen C. Chen sold 19,464 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the transaction, the general counsel now owns 35,558 shares in the company, valued at $7,522,294.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Stephen C. Chen sold 19,464 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the completion of the transaction, the general counsel now directly owns 35,558 shares of the company’s stock, valued at $7,522,294.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 139,760 shares of the company’s stock, valued at $29,001,597.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,374 shares of company stock worth $15,802,382 over the last 90 days. Corporate insiders own 18.30% 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.