State of Michigan Retirement System Has $2.92 Million Stock Position in Duolingo, Inc. (NASDAQ:DUOL)

State of Michigan Retirement System raised its position in Duolingo, Inc. (NASDAQ:DUOL) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 9,000 shares of the company’s stock after purchasing an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Duolingo were worth $2,918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in shares of Duolingo in the 4th quarter valued at about $1,994,000. Lecap Asset Management Ltd. acquired a new position in shares of Duolingo during the 4th quarter valued at $429,000. Charles Schwab Investment Management Inc. boosted its stake in Duolingo by 42.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company’s stock worth $96,530,000 after acquiring an additional 101,653 shares in the last quarter. Lisanti Capital Growth LLC grew its holdings in Duolingo by 17.8% in the third quarter. Lisanti Capital Growth LLC now owns 11,645 shares of the company’s stock worth $3,284,000 after purchasing an additional 1,760 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in Duolingo in the third quarter valued at $4,350,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Buying and Selling at Duolingo

In other news, insider Severin Hacker sold 188,901 shares of Duolingo stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $339.54, for a total transaction of $64,139,445.54. Following the completion of the sale, the insider now directly owns 72 shares of the company’s stock, valued at approximately $24,446.88. The trade was a 99.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Natalie Glance sold 9,020 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $290.59, for a total value of $2,621,121.80. Following the completion of the transaction, the insider now directly owns 130,733 shares in the company, valued at approximately $37,989,702.47. This represents a 6.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,159 shares of company stock valued at $107,512,184 in the last three months. Company insiders own 18.30% of the company’s stock.

Duolingo Stock Up 8.4 %

DUOL opened at $295.56 on Friday. The company has a 50 day moving average of $355.60 and a 200 day moving average of $312.65. The company has a market cap of $13.00 billion, a PE ratio of 161.51 and a beta of 0.92. Duolingo, Inc. has a 12 month low of $145.05 and a 12 month high of $441.77. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm had revenue of $209.55 million during the quarter, compared to the consensus estimate of $205.49 million. On average, sell-side analysts expect that Duolingo, Inc. will post 2.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DUOL shares. The Goldman Sachs Group upped their price target on Duolingo from $275.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Jefferies Financial Group started coverage on shares of Duolingo in a research report on Friday, January 24th. They set a “hold” rating and a $370.00 target price for the company. JMP Securities reissued a “market perform” rating on shares of Duolingo in a report on Friday, February 14th. UBS Group boosted their price objective on Duolingo from $408.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Piper Sandler upped their price target on Duolingo from $351.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Seven 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $375.00.

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.