Cynosure Group LLC Sells 410 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Cynosure Group LLC reduced its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 22.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,400 shares of the company’s stock after selling 410 shares during the quarter. Cynosure Group LLC’s holdings in Duolingo were worth $395,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC boosted its stake in Duolingo by 26.9% during the 3rd quarter. FMR LLC now owns 2,663,234 shares of the company’s stock valued at $751,085,000 after purchasing an additional 564,173 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in shares of Duolingo during the second quarter valued at approximately $204,768,000. American Century Companies Inc. grew its holdings in Duolingo by 25.1% during the second quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock worth $104,117,000 after buying an additional 100,167 shares in the last quarter. Bank of New York Mellon Corp raised its position in Duolingo by 153.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock valued at $82,450,000 after buying an additional 238,990 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Duolingo by 30,909.9% during the 3rd quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock valued at $100,135,000 after acquiring an additional 353,918 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the transaction, the insider now owns 139,760 shares of the company’s stock, valued at $29,001,597.60. This represents a 1.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stephen C. Chen sold 19,464 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the sale, the general counsel now owns 35,558 shares in the company, valued at approximately $7,522,294.90. This trade represents a 35.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,783 shares of company stock valued at $12,156,296 in the last 90 days. Corporate insiders own 18.30% of the company’s stock.

Duolingo Stock Performance

NASDAQ:DUOL opened at $347.64 on Thursday. The business’s fifty day moving average is $296.96 and its 200 day moving average is $230.29. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of 189.97 and a beta of 0.79. 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 52-week low of $145.05 and a 52-week high of $364.95.

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

Analyst Ratings Changes

DUOL has been the topic of several analyst reports. Evercore ISI upgraded shares of Duolingo to a “strong-buy” rating in a report on Monday, August 5th. Barclays boosted their target price on Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price target on Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Seaport Res Ptn downgraded Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Piper Sandler lifted their target price on Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Duolingo presently has a consensus rating of “Moderate Buy” and an average price target of $331.33.

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.