Renaissance Technologies LLC Increases Stock Position in Duolingo, Inc. (NASDAQ:DUOL)

Renaissance Technologies LLC raised its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 15.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445,100 shares of the company’s stock after buying an additional 58,000 shares during the quarter. Renaissance Technologies LLC owned about 1.01% of Duolingo worth $144,315,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. FMR LLC raised its stake in shares of Duolingo by 39.9% in the fourth quarter. FMR LLC now owns 3,726,561 shares of the company’s stock valued at $1,208,263,000 after acquiring an additional 1,063,327 shares during the period. Vanguard Group Inc. lifted its stake in Duolingo by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,542,194 shares of the company’s stock worth $1,148,486,000 after purchasing an additional 70,705 shares during the last quarter. Invesco Ltd. increased its stake in shares of Duolingo by 53.5% during the fourth quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock valued at $351,811,000 after buying an additional 378,225 shares during the period. State Street Corp raised its holdings in shares of Duolingo by 3.6% in the third quarter. State Street Corp now owns 1,076,273 shares of the company’s stock valued at $303,530,000 after acquiring an additional 36,923 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Duolingo by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 683,498 shares of the company’s stock worth $221,676,000 after acquiring an additional 10,698 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Duolingo Price Performance

Shares of DUOL stock opened at $296.51 on Tuesday. The firm’s 50-day moving average is $345.00 and its two-hundred day moving average is $327.54. Duolingo, Inc. has a 12 month low of $145.05 and a 12 month high of $441.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. The company has a market capitalization of $13.42 billion, a PE ratio of 162.03 and a beta of 0.91.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.19). Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business had revenue of $209.55 million for the quarter, compared to analyst estimates of $205.49 million. Analysts predict that Duolingo, Inc. will post 2.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group set a $400.00 target price on shares of Duolingo in a research note on Tuesday, March 18th. The Goldman Sachs Group upped their target price on Duolingo from $275.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Needham & Company LLC lifted their price target on Duolingo from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. Finally, Citizens Jmp raised Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 price target for the company in a report on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.08.

Insiders Place Their Bets

In other news, CEO Ahn Luis Von sold 8,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $321.00, for a total value of $2,568,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Natalie Glance sold 2,667 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total transaction of $1,160,891.76. Following the completion of the transaction, the insider now directly owns 129,572 shares of the company’s stock, valued at approximately $56,400,100.16. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,332 shares of company stock worth $30,517,807. 18.30% of the stock is owned by insiders.

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.