Confluence Wealth Services Inc. Acquires New Position in Duolingo, Inc. (NASDAQ:DUOL)

Confluence Wealth Services Inc. bought a new position in shares of Duolingo, Inc. (NASDAQ:DUOL) during the third quarter, Holdings Channel reports. The fund bought 1,108 shares of the company’s stock, valued at approximately $312,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in shares of Duolingo during the 2nd quarter worth $31,000. Blue Trust Inc. purchased a new stake in Duolingo in the 2nd quarter valued at about $32,000. GAMMA Investing LLC lifted its position in Duolingo by 350.0% in the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in Duolingo during the second quarter worth about $36,000. Finally, Farther Finance Advisors LLC increased its position 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 acquiring an additional 79 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Duolingo Stock Down 1.0 %

Shares of NASDAQ:DUOL opened at $290.65 on Tuesday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07. Duolingo, Inc. has a fifty-two week low of $145.05 and a fifty-two week high of $311.91. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 207.61 and a beta of 0.79. The firm’s 50 day moving average price is $262.16 and its 200 day moving average price is $218.68.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The firm had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $177.13 million. During the same period in the previous year, the company earned $0.08 earnings per share. Duolingo’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, equities research analysts predict that Duolingo, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the completion of the sale, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Stephen C. Chen sold 19,464 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the completion of the sale, the general counsel now owns 35,558 shares in the company, valued at $7,522,294.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Skaruppa sold 17,591 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total value of $3,646,086.57. Following the transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,874 shares of company stock worth $15,332,342. Insiders own 18.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DUOL. JMP Securities cut shares of Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. lifted their price objective on Duolingo from $255.00 to $303.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group increased their target price on Duolingo from $198.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $271.00 target price on shares of Duolingo in a research report on Friday, August 30th. Finally, Barclays lowered their price objective on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Four 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.22.

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.