Spyglass Capital Management LLC Raises Position in Duolingo, Inc. $DUOL

Spyglass Capital Management LLC grew its stake in shares of Duolingo, Inc. (NASDAQ:DUOL) by 227.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 268,726 shares of the company’s stock after acquiring an additional 186,777 shares during the period. Duolingo accounts for approximately 4.6% of Spyglass Capital Management LLC’s portfolio, making the stock its 8th largest holding. Spyglass Capital Management LLC’s holdings in Duolingo were worth $86,487,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DUOL. Atlantic Union Bankshares Corp purchased a new position in shares of Duolingo in the third quarter valued at $32,000. Farther Finance Advisors LLC lifted its holdings in Duolingo by 82.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 133 shares of the company’s stock worth $43,000 after purchasing an additional 60 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Duolingo by 8,900.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 180 shares of the company’s stock worth $58,000 after purchasing an additional 178 shares in the last quarter. Huntington National Bank boosted its stake in Duolingo by 103.0% in the 3rd quarter. Huntington National Bank now owns 205 shares of the company’s stock worth $66,000 after purchasing an additional 104 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in Duolingo in the 3rd quarter worth about $70,000. 91.59% of the stock is owned by institutional investors.

Duolingo Stock Performance

Shares of DUOL opened at $98.39 on Friday. Duolingo, Inc. has a 12-month low of $91.99 and a 12-month high of $544.93. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.55 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 0.66 and a beta of 0.90. The stock has a 50-day moving average price of $128.43 and a 200-day moving average price of $208.10.

Duolingo (NASDAQ:DUOL) last announced its earnings results on Thursday, February 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. Duolingo had a net margin of 39.91% and a return on equity of 14.88%. The business had revenue of $282.87 million for the quarter, compared to the consensus estimate of $275.95 million. Duolingo’s quarterly revenue was up 35.0% compared to the same quarter last year. As a group, equities analysts forecast that Duolingo, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at Duolingo

In other news, General Counsel Stephen C. Chen sold 1,901 shares of Duolingo stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $113.26, for a total transaction of $215,307.26. Following the completion of the sale, the general counsel directly owned 30,545 shares of the company’s stock, valued at approximately $3,459,526.70. The trade was a 5.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Natalie Glance sold 3,545 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $113.51, for a total transaction of $402,392.95. Following the completion of the transaction, the insider owned 115,380 shares of the company’s stock, valued at $13,096,783.80. This trade represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 14,939 shares of company stock worth $1,676,291. Company insiders own 15.67% of the company’s stock.

Analysts Set New Price Targets

DUOL has been the topic of several analyst reports. Evercore reiterated a “hold” rating and set a $114.00 price target on shares of Duolingo in a research report on Friday, February 27th. Morgan Stanley restated an “equal weight” rating and issued a $100.00 price objective (down from $245.00) on shares of Duolingo in a research report on Friday, February 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $95.00 target price (down from $200.00) on shares of Duolingo in a report on Friday, February 27th. Scotiabank reiterated a “sector perform” rating and issued a $100.00 target price (down from $300.00) on shares of Duolingo in a research note on Friday, February 27th. Finally, Zacks Research downgraded shares of Duolingo from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Duolingo has a consensus rating of “Hold” and a consensus price target of $206.32.

Duolingo Company Profile

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.