Oppenheimer Asset Management Inc. Takes Position in Duolingo, Inc. (NASDAQ:DUOL)

Oppenheimer Asset Management Inc. acquired a new position in Duolingo, Inc. (NASDAQ:DUOL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,400 shares of the company’s stock, valued at approximately $395,000.

A number of other hedge funds also recently added to or reduced their stakes in DUOL. GSA Capital Partners LLP purchased a new position in shares of Duolingo in the third quarter worth $607,000. Entropy Technologies LP purchased a new position in Duolingo in the 3rd quarter worth about $233,000. Versor Investments LP bought a new position in Duolingo during the 3rd quarter valued at about $321,000. Lisanti Capital Growth LLC boosted its holdings in shares of Duolingo by 17.8% during the 3rd quarter. Lisanti Capital Growth LLC now owns 11,645 shares of the company’s stock valued at $3,284,000 after acquiring an additional 1,760 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in shares of Duolingo by 14.9% in the third quarter. Axxcess Wealth Management LLC now owns 3,181 shares of the company’s stock worth $897,000 after acquiring an additional 413 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DUOL has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on shares of Duolingo from $303.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JMP Securities downgraded Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Seaport Res Ptn cut Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. DA Davidson raised their target price on Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC upped their price target on shares of Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Five equities 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $331.33.

Insiders Place Their Bets

In related news, General Counsel Stephen C. Chen sold 19,464 shares of the company’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 of the company’s stock, valued at $7,522,294.90. This represents a 35.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total transaction of $470,040.00. Following the transaction, the insider now owns 136,760 shares of the company’s stock, valued at $42,855,113.60. This trade represents a 1.08 % 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 quarter. 18.30% of the stock is currently owned by insiders.

Duolingo Price Performance

Shares of Duolingo stock opened at $322.07 on Wednesday. The company has a market capitalization of $14.17 billion, a price-to-earnings ratio of 175.99 and a beta of 0.79. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock’s 50-day simple moving average is $285.57 and its 200-day simple moving average is $226.09. Duolingo, Inc. has a 52 week low of $145.05 and a 52 week high of $330.61.

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

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.