Renaissance Technologies LLC Sells 136,500 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Renaissance Technologies LLC reduced its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 30.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 315,200 shares of the company’s stock after selling 136,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Duolingo were worth $65,773,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of DUOL. Dimensional Fund Advisors LP raised its stake in shares of Duolingo by 44.2% in the second quarter. Dimensional Fund Advisors LP now owns 88,410 shares of the company’s stock valued at $18,448,000 after buying an additional 27,090 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Duolingo in the second quarter valued at $1,048,000. Federated Hermes Inc. raised its stake in shares of Duolingo by 1.5% in the second quarter. Federated Hermes Inc. now owns 274,434 shares of the company’s stock valued at $57,266,000 after buying an additional 4,139 shares during the period. American Century Companies Inc. raised its stake in shares of Duolingo by 25.1% in the second quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock valued at $104,117,000 after buying an additional 100,167 shares during the period. Finally, Headlands Technologies LLC raised its stake in shares of Duolingo by 350.7% in the second quarter. Headlands Technologies LLC now owns 3,457 shares of the company’s stock valued at $721,000 after buying an additional 2,690 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Ahn Luis Von sold 1,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $215.00, for a total transaction of $215,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ahn Luis Von sold 1,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $215.00, for a total value of $215,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total value of $242,670.00. Following the completion of the transaction, the insider now owns 144,282 shares of the company’s stock, valued at $23,341,941.96. The disclosure for this sale can be found here. Insiders sold a total of 92,555 shares of company stock worth $18,302,871 over the last ninety days. 18.30% of the stock is owned by corporate insiders.

Duolingo Price Performance

Duolingo stock opened at $234.00 on Tuesday. Duolingo, Inc. has a 52 week low of $140.16 and a 52 week high of $251.30. The business has a 50-day simple moving average of $193.47 and a 200 day simple moving average of $202.97. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 241.24 and a beta of 0.76.

Duolingo (NASDAQ:DUOL) last posted its earnings results on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.32 by $0.19. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The business 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 business earned $0.08 earnings per share. The firm’s revenue was up 40.6% on a year-over-year basis. On average, research analysts forecast that Duolingo, Inc. will post 1.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

DUOL has been the topic of several research reports. Needham & Company LLC lowered their target price on Duolingo from $267.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and issued a $260.00 price target on shares of Duolingo in a research report on Wednesday, July 10th. Evercore ISI upgraded Duolingo to a “strong-buy” rating in a research report on Monday, August 5th. DA Davidson reiterated a “buy” rating and issued a $250.00 price target on shares of Duolingo in a research report on Tuesday, September 10th. Finally, Bank of America upgraded Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 price target for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.40.

About Duolingo

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.