Alberta Investment Management Corp Increases Stake in Duolingo, Inc. (NASDAQ:DUOL)

Alberta Investment Management Corp raised its holdings in shares of Duolingo, Inc. (NASDAQ:DUOL) by 17.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,832 shares of the company’s stock after purchasing an additional 1,600 shares during the quarter. Alberta Investment Management Corp’s holdings in Duolingo were worth $3,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in shares of Duolingo in the third quarter worth about $26,000. First Horizon Advisors Inc. bought a new position in Duolingo in the 3rd quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Duolingo in the 4th quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its stake in Duolingo by 164.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after buying an additional 79 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Duolingo by 1,255.6% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock valued at $40,000 after acquiring an additional 113 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DUOL. Needham & Company LLC raised their price target on Duolingo from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Scotiabank assumed coverage on Duolingo in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Piper Sandler increased their price target on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.55.

Insider Transactions at Duolingo

In related news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $369.33, for a total value of $553,995.00. Following the completion of the transaction, the insider now directly owns 132,239 shares in the company, valued at approximately $48,839,829.87. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Skaruppa sold 3,284 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total value of $1,429,459.52. Following the sale, the chief financial officer now owns 59,982 shares in the company, valued at $26,108,964.96. The trade was a 5.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 305,639 shares of company stock valued at $105,445,057 in the last quarter. Insiders own 18.30% of the company’s stock.

Duolingo Trading Down 2.5 %

Shares of DUOL opened at $421.78 on Friday. Duolingo, Inc. has a 1-year low of $145.05 and a 1-year high of $441.77. The company has a market capitalization of $18.55 billion, a P/E ratio of 230.48 and a beta of 0.89. 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 firm’s 50 day simple moving average is $356.02 and its 200 day simple moving average is $301.79.

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.