469,716 Shares in Duolingo, Inc. (NASDAQ:DUOL) Acquired by Norges Bank

Norges Bank purchased a new position in shares of Duolingo, Inc. (NASDAQ:DUOL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 469,716 shares of the company’s stock, valued at approximately $152,296,000. Norges Bank owned 1.07% of Duolingo as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Catalyst Capital Advisors LLC purchased a new position in shares of Duolingo in the 4th quarter worth $1,994,000. Taika Capital LP acquired a new stake in Duolingo during the 4th quarter worth approximately $2,697,000. Lecap Asset Management Ltd. purchased a new stake in Duolingo during the fourth quarter worth approximately $429,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Duolingo in the third quarter worth $4,350,000. Finally, Diversified Trust Co purchased a new position in shares of Duolingo in the 4th quarter valued at $784,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Duolingo news, CFO Matthew Skaruppa sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $324.48, for a total value of $1,622,400.00. Following the transaction, the chief financial officer now owns 67,730 shares of the company’s stock, valued at $21,977,030.40. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ahn Luis Von sold 8,000 shares of Duolingo stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $321.00, for a total value of $2,568,000.00. The disclosure for this sale can be found here. Insiders have sold 100,850 shares of company stock worth $34,389,695 over the last ninety days. 18.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America lowered Duolingo from a “buy” rating to a “neutral” rating and raised their price objective for the company from $355.00 to $375.00 in a research report on Wednesday, December 11th. Citizens Jmp upgraded Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a report on Tuesday, March 18th. UBS Group set a $400.00 price target on Duolingo in a report on Tuesday, March 18th. Piper Sandler lifted their price objective on shares of Duolingo from $351.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group started coverage on shares of Duolingo in a research note on Friday, January 24th. They issued a “hold” rating and a $370.00 target price for the company. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $377.08.

Duolingo Price Performance

DUOL opened at $310.54 on Tuesday. The company has a market capitalization of $14.05 billion, a P/E ratio of 169.69 and a beta of 0.92. The company has a 50-day moving average of $346.93 and a 200-day moving average of $325.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $441.77.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share (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 for the quarter, compared to analyst estimates of $205.49 million. Equities analysts expect that Duolingo, Inc. will post 2.03 EPS for the current fiscal 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.