Duolingo, Inc. (NASDAQ:DUOL) Stake Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in Duolingo, Inc. (NASDAQ:DUOL) by 19.4% during the fourth quarter, HoldingsChannel reports. The fund owned 34,033 shares of the company’s stock after selling 8,181 shares during the quarter. New York State Common Retirement Fund’s holdings in Duolingo were worth $11,035,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its position in Duolingo by 26.9% in the 3rd quarter. FMR LLC now owns 2,663,234 shares of the company’s stock worth $751,085,000 after purchasing an additional 564,173 shares during the last quarter. State Street Corp increased its holdings in Duolingo by 3.6% in the third quarter. State Street Corp now owns 1,076,273 shares of the company’s stock worth $303,530,000 after buying an additional 36,923 shares during the last quarter. Geode Capital Management LLC raised its position in Duolingo by 2.5% during the third quarter. Geode Capital Management LLC now owns 672,800 shares of the company’s stock valued at $189,790,000 after acquiring an additional 16,481 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Duolingo by 42.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company’s stock valued at $96,530,000 after acquiring an additional 101,653 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Duolingo by 63.6% in the third quarter. Lord Abbett & CO. LLC now owns 197,670 shares of the company’s stock valued at $55,747,000 after acquiring an additional 76,875 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Duolingo Stock Performance

Shares of NASDAQ DUOL opened at $389.90 on Tuesday. Duolingo, Inc. has a 12 month low of $145.05 and a 12 month high of $441.77. The company has a market cap of $17.15 billion, a P/E ratio of 213.06 and a beta of 0.89. The business’s 50 day moving average is $357.79 and its two-hundred day moving average is $306.82. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DUOL shares. JPMorgan Chase & Co. raised their price target on shares of Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Needham & Company LLC raised their target price on Duolingo from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, December 19th. UBS Group boosted their price target on Duolingo from $408.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Piper Sandler increased their price objective on Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Duolingo has an average rating of “Moderate Buy” and an average price target of $355.55.

Insider Transactions at Duolingo

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $369.33, for a total value of $553,995.00. Following the completion of the sale, the insider now directly owns 132,239 shares of the company’s stock, valued at $48,839,829.87. This represents a 1.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ahn Luis Von sold 41,759 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $340.29, for a total transaction of $14,210,170.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 305,639 shares of company stock worth $105,445,057. Insiders own 18.30% of the company’s stock.

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.