Duolingo, Inc. (NASDAQ:DUOL) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in Duolingo, Inc. (NASDAQ:DUOL) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,061 shares of the company’s stock after buying an additional 32 shares during the quarter. CIBC Asset Management Inc’s holdings in Duolingo were worth $299,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Larson Financial Group LLC purchased a new stake in shares of Duolingo in the second quarter worth about $31,000. Blue Trust Inc. purchased a new stake in Duolingo in the 2nd quarter worth approximately $32,000. GAMMA Investing LLC grew its stake 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 purchasing an additional 133 shares during the period. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Duolingo during the 2nd quarter valued at approximately $36,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Duolingo by 164.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after purchasing an additional 79 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Duolingo news, CFO Matthew Skaruppa sold 14,000 shares of Duolingo stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.44, for a total transaction of $2,904,160.00. Following the transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at $18,432,288.64. The trade was a 13.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total transaction of $470,040.00. Following the completion of the sale, the insider now directly owns 136,760 shares of the company’s stock, valued at approximately $42,855,113.60. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,783 shares of company stock worth $12,156,296. 18.30% of the stock is owned by corporate insiders.

Duolingo Price Performance

Shares of NASDAQ DUOL opened at $341.93 on Friday. The firm has a 50-day simple moving average of $289.99 and a 200-day simple moving average of $227.62. 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 stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 186.85 and a beta of 0.79. Duolingo, Inc. has a 52 week low of $145.05 and a 52 week high of $342.51.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The company had revenue of $192.59 million during 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%. Duolingo’s quarterly revenue was up 39.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. On average, equities analysts predict that Duolingo, Inc. will post 2.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on DUOL shares. Seaport Res Ptn cut shares of Duolingo from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America lifted their price target on Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Evercore ISI upgraded Duolingo to a “strong-buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their price objective on Duolingo from $303.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, JMP Securities downgraded Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $331.33.

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.