Polar Asset Management Partners Inc. Invests $3.04 Million in Duolingo, Inc. $DUOL

by · The Cerbat Gem

Polar Asset Management Partners Inc. bought a new position in shares of Duolingo, Inc. (NASDAQ:DUOL – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,459 shares of the company’s stock, valued at approximately $3,044,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Duolingo by 3.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 940 shares of the company’s stock worth $385,000 after acquiring an additional 32 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of Duolingo by 5.0% during the second quarter. Evergreen Capital Management LLC now owns 818 shares of the company’s stock worth $335,000 after purchasing an additional 39 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in shares of Duolingo by 22.2% during the third quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 220 shares of the company’s stock worth $71,000 after purchasing an additional 40 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Duolingo by 82.2% during the third quarter. Farther Finance Advisors LLC now owns 133 shares of the company’s stock valued at $43,000 after purchasing an additional 60 shares during the last quarter. Finally, Smithfield Trust Co lifted its holdings in shares of Duolingo by 35.4% during the third quarter. Smithfield Trust Co now owns 237 shares of the company’s stock valued at $76,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Duolingo Stock Performance

Shares of NASDAQ DUOL opened at $99.61 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.61 and a quick ratio of 2.61. Duolingo, Inc. has a one year low of $91.99 and a one year high of $544.93. The business’s 50-day moving average price is $122.26 and its two-hundred day moving average price is $202.21. The company has a market capitalization of $4.60 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.70 and a beta of 0.90.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial lowered shares of Duolingo from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Friday, February 27th. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 target price (down from $245.00) on shares of Duolingo in a research report on Friday, February 27th. Zacks Research lowered shares of Duolingo from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $95.00 price target (down from $200.00) on shares of Duolingo in a research report on Friday, February 27th. Finally, Bank of America reiterated a “neutral” rating and set a $100.00 price objective on shares of Duolingo in a research report on Friday, February 27th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $206.32.

Get Our Latest Report on Duolingo

Insider Transactions at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 3,986 shares of Duolingo stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $113.52, for a total value of $452,490.72. Following the completion of the sale, the chief financial officer directly owned 31,631 shares in the company, valued at $3,590,751.12. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Natalie Glance sold 3,545 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 115,380 shares of the company’s stock, valued at $13,096,783.80. This represents a 2.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 14,939 shares of company stock valued at $1,676,291. Insiders own 15.67% of the company’s stock.

Duolingo Profile

(Free Report)

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.

See Also

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