Long Walk Management LP Has $20.95 Million Stock Holdings in Duolingo, Inc. (NASDAQ:DUOL)

Long Walk Management LP grew its stake in Duolingo, Inc. (NASDAQ:DUOL) by 95.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 74,300 shares of the company’s stock after buying an additional 36,300 shares during the quarter. Duolingo makes up approximately 8.7% of Long Walk Management LP’s portfolio, making the stock its 6th biggest position. Long Walk Management LP’s holdings in Duolingo were worth $20,954,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DUOL. Covestor Ltd lifted its holdings in shares of Duolingo by 34.0% during the 3rd quarter. Covestor Ltd now owns 1,087 shares of the company’s stock worth $307,000 after acquiring an additional 276 shares during the last quarter. Atria Investments Inc purchased a new stake in Duolingo during the third quarter valued at about $279,000. Assetmark Inc. lifted its stake in Duolingo by 11.1% during the third quarter. Assetmark Inc. now owns 2,054 shares of the company’s stock worth $579,000 after purchasing an additional 206 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Duolingo in the 3rd quarter worth about $68,000. Finally, M&G PLC increased its position in shares of Duolingo by 3.0% during the 3rd quarter. M&G PLC now owns 38,301 shares of the company’s stock valued at $10,801,000 after purchasing an additional 1,105 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DUOL. UBS Group boosted their target price on Duolingo from $225.00 to $355.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. DA Davidson upped their price objective on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday. Wolfe Research started coverage on shares of Duolingo in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Needham & Company LLC boosted their price target on shares of Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JMP Securities cut Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Duolingo currently has an average rating of “Moderate Buy” and an average target price of $325.44.

Insider Buying and Selling

In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Duolingo news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $313.36, for a total transaction of $470,040.00. Following the sale, the insider now directly owns 136,760 shares of the company’s stock, valued at approximately $42,855,113.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew Skaruppa sold 17,591 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total value of $3,646,086.57. Following the completion of the transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at $18,417,183.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,374 shares of company stock valued at $15,802,382 over the last quarter. 18.30% of the stock is owned by company insiders.

Duolingo Stock Performance

Duolingo stock opened at $326.89 on Friday. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. The firm has a market cap of $14.23 billion, a P/E ratio of 178.63 and a beta of 0.79. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $330.61. The firm has a 50-day moving average of $270.84 and a 200-day moving average of $221.61.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.13. Duolingo had a return on equity of 12.20% and a net margin of 12.59%. The business had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. During the same quarter last year, the business posted $0.06 EPS. The business’s revenue was up 39.9% on a year-over-year basis. Sell-side analysts expect that Duolingo, Inc. will post 1.87 EPS for the current 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.