Cynosure Group LLC Sells 410 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Cynosure Group LLC cut its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 22.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,400 shares of the company’s stock after selling 410 shares during the quarter. Cynosure Group LLC’s holdings in Duolingo were worth $395,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DUOL. CIBC Asset Management Inc boosted its holdings in Duolingo by 3.1% during the 3rd quarter. CIBC Asset Management Inc now owns 1,061 shares of the company’s stock valued at $299,000 after acquiring an additional 32 shares during the period. Mount Lucas Management LP increased its stake in shares of Duolingo by 2.4% in the third quarter. Mount Lucas Management LP now owns 1,340 shares of the company’s stock worth $378,000 after buying an additional 32 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Duolingo by 3.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,962 shares of the company’s stock valued at $409,000 after buying an additional 73 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Duolingo by 164.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after buying an additional 79 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Duolingo by 19.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 520 shares of the company’s stock valued at $109,000 after buying an additional 85 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DUOL has been the subject of several recent analyst reports. Bank of America upped their price objective on shares of Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group increased their price objective on Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Needham & Company LLC boosted their target price on Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group lifted their price target on shares of Duolingo from $355.00 to $408.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Seaport Res Ptn downgraded 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and an average target price of $331.33.

Duolingo Stock Down 1.7 %

Shares of NASDAQ:DUOL opened at $347.64 on Thursday. The stock has a fifty day simple moving average of $296.96 and a two-hundred day simple moving average of $230.29. 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 stock has a market capitalization of $15.29 billion, a price-to-earnings ratio of 189.97 and a beta of 0.79. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $364.95.

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

Insider Activity at Duolingo

In other news, General Counsel Stephen C. Chen sold 19,464 shares of the business’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. The trade was a 35.37 % 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 Natalie Glance sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.51, for a total transaction of $311,265.00. Following the completion of the sale, the insider now owns 139,760 shares in the company, valued at $29,001,597.60. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,783 shares of company stock valued at $12,156,296. 18.30% of the stock is owned by corporate 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.