Legacy Capital Group California Inc. Takes $1.08 Million Position in Duolingo, Inc. (NASDAQ:DUOL)

Legacy Capital Group California Inc. purchased a new stake in shares of Duolingo, Inc. (NASDAQ:DUOL) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,322 shares of the company’s stock, valued at approximately $1,077,000.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in shares of Duolingo during the third quarter valued at approximately $26,000. First Horizon Advisors Inc. purchased a new stake in shares of Duolingo during the third quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Duolingo during the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its holdings in shares of Duolingo by 164.6% during the third quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after buying an additional 79 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Duolingo by 1,255.6% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock valued at $40,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DUOL shares. Needham & Company LLC increased their price objective on shares of Duolingo from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Piper Sandler increased their price objective on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. 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 price objective on the stock. Bank of America downgraded shares of Duolingo from a “buy” rating to a “neutral” rating and increased their price objective for the company from $355.00 to $375.00 in a research report on Wednesday, December 11th. Finally, DA Davidson increased their price objective on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $355.55.

Insider Transactions at Duolingo

In related news, insider Natalie Glance sold 1,500 shares of the company’s 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 transaction, the insider now owns 132,239 shares of the company’s stock, valued at approximately $48,839,829.87. This represents a 1.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Stephen C. Chen sold 2,064 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $435.12, for a total value of $898,087.68. Following the completion of the sale, the general counsel now owns 34,634 shares of the company’s stock, valued at $15,069,946.08. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 305,639 shares of company stock valued at $105,445,057 over the last three months. Corporate insiders own 18.30% of the company’s stock.

Duolingo Price Performance

NASDAQ DUOL opened at $421.78 on Friday. 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, Inc. has a 12 month low of $145.05 and a 12 month high of $441.77. The stock has a market cap of $18.55 billion, a price-to-earnings ratio of 230.48 and a beta of 0.89. The company’s 50 day moving average is $356.02 and its two-hundred day moving average is $301.79.

Duolingo Company 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.