Franklin Resources Inc. Sells 66,863 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Franklin Resources Inc. cut its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 24.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,340 shares of the company’s stock after selling 66,863 shares during the quarter. Franklin Resources Inc. owned 0.46% of Duolingo worth $58,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in Duolingo in the third quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new stake in shares of Duolingo during the 3rd quarter valued at $29,000. Farther Finance Advisors LLC boosted its holdings in shares of Duolingo by 164.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after acquiring an additional 79 shares in the last quarter. Blue Trust Inc. bought a new stake in Duolingo during the 2nd quarter worth $32,000. Finally, Larson Financial Group LLC acquired a new position in Duolingo in the 2nd quarter worth about $31,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DUOL. The Goldman Sachs Group boosted their price target on Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Needham & Company LLC increased their price objective on Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on Duolingo from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, Bank of America lowered Duolingo from a “buy” rating to a “neutral” rating and upped their price target for the company from $355.00 to $375.00 in a research report on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $352.40.

Insider Buying and Selling

In other news, insider Robert Meese sold 5,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $270.00, for a total transaction of $1,350,000.00. Following the transaction, the insider now owns 147,053 shares in the company, valued at approximately $39,704,310. This represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $280.91, for a total transaction of $421,365.00. Following the transaction, the insider now directly owns 138,260 shares in the company, valued at $38,838,616.60. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 245,160 shares of company stock valued at $82,570,216 over the last ninety days. 18.30% of the stock is owned by corporate insiders.

Duolingo Stock Up 3.2 %

Shares of Duolingo stock opened at $348.72 on Tuesday. The stock’s 50-day moving average is $318.74 and its 200 day moving average is $247.23. Duolingo, Inc. has a one year low of $145.05 and a one year high of $378.48. The firm has a market cap of $15.34 billion, a price-to-earnings ratio of 190.56 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The firm had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The company’s revenue for the quarter was up 39.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Equities research analysts anticipate that Duolingo, Inc. will post 2.02 EPS 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.