New Mexico Educational Retirement Board Purchases New Holdings in Duolingo, Inc. (NASDAQ:DUOL)

New Mexico Educational Retirement Board purchased a new stake in Duolingo, Inc. (NASDAQ:DUOL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,400 shares of the company’s stock, valued at approximately $1,544,000.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Duolingo by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock valued at $747,200,000 after purchasing an additional 67,004 shares in the last quarter. Whale Rock Capital Management LLC lifted its holdings 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 during the period. Bank of New York Mellon Corp boosted 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 valued at $82,450,000 after acquiring an additional 238,990 shares in the last quarter. Norges Bank bought a new stake in Duolingo in the fourth quarter valued at about $84,042,000. Finally, Price T Rowe Associates Inc. MD raised its position in Duolingo by 73.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after purchasing an additional 154,659 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Duolingo Trading Down 1.0 %

Shares of NASDAQ DUOL opened at $208.26 on Friday. Duolingo, Inc. has a 1-year low of $140.16 and a 1-year high of $251.30. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $189.82 and a two-hundred day moving average of $201.49. The company has a market cap of $8.98 billion, a PE ratio of 214.70 and a beta of 0.76.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.19. The firm had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $177.13 million. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. Duolingo’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, equities analysts expect that Duolingo, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Duolingo

In related news, CFO Matthew Skaruppa sold 14,000 shares of Duolingo stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.44, for a total value of $2,904,160.00. Following the completion of the sale, the chief financial officer now directly owns 88,856 shares in the company, valued at $18,432,288.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Stephen C. Chen sold 19,464 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the transaction, the general counsel now directly owns 35,558 shares in the company, valued at $7,522,294.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Skaruppa sold 14,000 shares of Duolingo stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.44, for a total transaction of $2,904,160.00. Following the sale, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at approximately $18,432,288.64. The disclosure for this sale can be found here. Insiders sold a total of 91,055 shares of company stock worth $17,991,606 over the last 90 days. 18.30% of the stock is owned by insiders.

Analyst Ratings Changes

DUOL has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $271.00 price objective on shares of Duolingo in a report on Friday, August 30th. JPMorgan Chase & Co. lowered their price target on Duolingo from $275.00 to $255.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and set a $260.00 price objective on shares of Duolingo in a report on Wednesday, July 10th. DA Davidson initiated coverage on shares of Duolingo in a report on Thursday, June 13th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Bank of America raised shares of Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 price target for the company in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $237.40.

Duolingo Profile

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.