Duolingo, Inc. (NASDAQ:DUOL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Duolingo, Inc. (NASDAQ:DUOL) by 11.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 158,855 shares of the company’s stock after selling 19,964 shares during the period. Principal Financial Group Inc. owned approximately 0.36% of Duolingo worth $44,800,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of DUOL. Blue Trust Inc. purchased a new position in Duolingo during the 2nd quarter worth approximately $32,000. Nisa Investment Advisors LLC raised its holdings in shares of Duolingo by 19.5% during the second quarter. Nisa Investment Advisors LLC now owns 520 shares of the company’s stock worth $109,000 after purchasing an additional 85 shares during the last quarter. Fifth Third Bancorp acquired a new position in Duolingo during the second quarter valued at $40,000. Retirement Systems of Alabama purchased a new stake in Duolingo in the second quarter valued at $9,526,000. Finally, Bank of New York Mellon Corp grew its position in 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 period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Duolingo Stock Up 2.1 %

Shares of NASDAQ DUOL opened at $342.12 on Monday. Duolingo, Inc. has a 52-week low of $145.05 and a 52-week high of $378.48. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $322.88 and its 200-day simple moving average is $250.96. The firm has a market cap of $15.05 billion, a price-to-earnings ratio of 186.95 and a beta of 0.85.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DUOL. Barclays upped their target price on Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Scotiabank started coverage on Duolingo in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Bank of America cut shares of Duolingo from a “buy” rating to a “neutral” rating and boosted their target price for the company from $355.00 to $375.00 in a research note on Wednesday, December 11th. Finally, DA Davidson raised their price target on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $353.90.

Insider Buying and Selling

In related news, CEO Ahn Luis Von sold 41,759 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $340.29, for a total transaction of $14,210,170.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Meese sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total transaction of $1,425,200.00. Following the completion of the transaction, the insider now directly owns 142,053 shares in the company, valued at $40,490,787.12. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,160 shares of company stock worth $84,588,416. 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.