Spyglass Capital Management LLC Acquires Shares of 136,559 Duolingo, Inc. (NASDAQ:DUOL)

Spyglass Capital Management LLC purchased a new stake in Duolingo, Inc. (NASDAQ:DUOL) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 136,559 shares of the company’s stock, valued at approximately $38,512,000. Duolingo comprises 2.5% of Spyglass Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Spyglass Capital Management LLC owned about 0.31% of Duolingo at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. bought a new position in shares of Duolingo in the third quarter valued at about $29,000. Farther Finance Advisors LLC raised its holdings in Duolingo by 164.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock worth $36,000 after purchasing an additional 79 shares during the last quarter. Blue Trust Inc. bought a new stake in Duolingo during the 2nd quarter worth about $32,000. Larson Financial Group LLC acquired a new position in shares of Duolingo during the 2nd quarter worth about $31,000. Finally, GAMMA Investing LLC grew its position in shares of Duolingo by 350.0% during the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after buying an additional 133 shares during the period. 91.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DUOL. JMP Securities lowered Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. Bank of America boosted their price objective on Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Needham & Company LLC upped their price target on Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. DA Davidson upped their price target on Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price target on Duolingo from $303.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $331.33.

Insider Activity at Duolingo

In related news, insider Robert Meese sold 4,819 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $240.02, for a total value of $1,156,656.38. Following the sale, the insider now owns 157,053 shares in the company, valued at approximately $37,695,861.06. This represents a 2.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the completion of the transaction, the insider now directly owns 139,760 shares in the company, valued at approximately $29,001,597.60. This represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,319 shares of company stock worth $8,038,686. Company insiders own 18.30% of the company’s stock.

Duolingo Trading Down 1.7 %

Shares of Duolingo stock opened at $347.64 on Friday. Duolingo, Inc. has a 12-month low of $145.05 and a 12-month high of $364.95. The stock has a market cap of $15.29 billion, a P/E ratio of 189.97 and a beta of 0.79. 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 business’s 50 day moving average is $298.91 and its 200-day moving average is $231.11.

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

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.