Foxhaven Asset Management LP Has $174.73 Million Position in Duolingo, Inc. $DUOL

Foxhaven Asset Management LP trimmed its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 426,145 shares of the company’s stock after selling 71,586 shares during the period. Duolingo accounts for approximately 4.2% of Foxhaven Asset Management LP’s investment portfolio, making the stock its 10th biggest position. Foxhaven Asset Management LP owned approximately 0.94% of Duolingo worth $174,728,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of Duolingo by 110.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company’s stock valued at $307,716,000 after purchasing an additional 520,069 shares during the last quarter. Norges Bank acquired a new stake in Duolingo during the second quarter worth approximately $192,965,000. Nuveen LLC bought a new position in Duolingo during the 1st quarter worth $42,950,000. 1832 Asset Management L.P. increased its position in shares of Duolingo by 746.9% in the first quarter. 1832 Asset Management L.P. now owns 137,200 shares of the company’s stock worth $42,606,000 after purchasing an additional 121,000 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Duolingo by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,647,951 shares of the company’s stock valued at $1,495,733,000 after buying an additional 116,135 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Buying and Selling at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 3,059 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $175.76, for a total value of $537,649.84. Following the completion of the transaction, the chief financial officer owned 37,487 shares in the company, valued at $6,588,715.12. This represents a 7.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $172.74, for a total transaction of $1,727,400.00. Following the completion of the transaction, the insider directly owned 72 shares in the company, valued at $12,437.28. This trade represents a 99.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 76,452 shares of company stock valued at $18,736,132 in the last ninety days. 15.67% of the stock is owned by corporate insiders.

Duolingo Price Performance

DUOL opened at $200.92 on Friday. Duolingo, Inc. has a 1 year low of $166.27 and a 1 year high of $544.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.82 and a quick ratio of 2.82. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 25.47, a P/E/G ratio of 1.24 and a beta of 0.86. The firm’s fifty day moving average price is $245.42 and its two-hundred day moving average price is $329.67.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Wednesday, November 5th. The company reported $5.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $5.23. Duolingo had a net margin of 40.03% and a return on equity of 14.02%. The company had revenue of $271.71 million for the quarter, compared to analyst estimates of $260.14 million. During the same period last year, the firm earned $0.49 earnings per share. The firm’s revenue was up 41.1% on a year-over-year basis. As a group, analysts anticipate that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DUOL shares. JPMorgan Chase & Co. decreased their price target on Duolingo from $465.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Raymond James Financial restated a “market perform” rating on shares of Duolingo in a research report on Tuesday, August 26th. KeyCorp downgraded Duolingo from an “overweight” rating to a “sector weight” rating in a research report on Thursday, November 6th. Scotiabank lowered their target price on shares of Duolingo from $600.00 to $300.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 6th. Finally, Zacks Research lowered Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $329.44.

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.