Alliancebernstein L.P. Reduces Stock Position in Duolingo, Inc. (NASDAQ:DUOL)

Alliancebernstein L.P. trimmed its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 59.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 307,194 shares of the company’s stock after selling 448,281 shares during the quarter. Alliancebernstein L.P.’s holdings in Duolingo were worth $99,602,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DUOL. Mirae Asset Global Investments Co. Ltd. bought a new stake in Duolingo during the fourth quarter worth approximately $31,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Duolingo by 5,050.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock worth $33,000 after purchasing an additional 101 shares during the period. Global Retirement Partners LLC increased its position in shares of Duolingo by 1,255.6% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock valued at $40,000 after purchasing an additional 113 shares during the last quarter. Smithfield Trust Co raised its holdings in Duolingo by 41.8% during the 4th quarter. Smithfield Trust Co now owns 156 shares of the company’s stock valued at $51,000 after buying an additional 46 shares during the period. Finally, R Squared Ltd bought a new stake in Duolingo in the fourth quarter worth $55,000. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on DUOL. Scotiabank started coverage on shares of Duolingo in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $425.00 price objective on the stock. Bank of America cut shares of Duolingo from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $375.00 in a research note on Wednesday, December 11th. Piper Sandler increased their price objective on shares of Duolingo from $351.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. DA Davidson boosted their target price on Duolingo from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, UBS Group set a $400.00 price target on Duolingo in a report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Duolingo has an average rating of “Moderate Buy” and an average price target of $377.08.

Insider Activity

In other Duolingo news, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $336.23, for a total transaction of $3,362,300.00. Following the completion of the sale, the insider now owns 72 shares in the company, valued at $24,208.56. This represents a 99.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stephen C. Chen sold 2,064 shares of Duolingo stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total value of $898,087.68. Following the completion of the transaction, the general counsel now owns 34,634 shares in the company, valued at $15,069,946.08. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,332 shares of company stock worth $33,880,107. Corporate insiders own 18.30% of the company’s stock.

Duolingo Trading Up 3.1 %

DUOL opened at $337.56 on Thursday. 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’s fifty day moving average is $346.76 and its two-hundred day moving average is $325.86. The company has a market capitalization of $15.27 billion, a P/E ratio of 184.46 and a beta of 0.92. Duolingo, Inc. has a 52 week low of $145.05 and a 52 week high of $441.77.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share 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. Analysts forecast that Duolingo, Inc. will post 2.03 earnings per share for the current year.

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.