Tower Research Capital LLC TRC, a prominent institutional investor, recently reduced its stake in Duolingo, Inc. (NYSE:DUOL) by a significant 79.1% during the first quarter of this year, as stated in its most recent filing with the Securities and Exchange Commission (SEC). The investor now owns 1,451 shares of Duolingo’s stock after selling 5,490 shares during this period. At the end of this reporting period, Tower Research Capital’s holdings in Duolingo were valued at $207,000.
Duolingo, Inc is a mobile learning platform that operates not only in the United States but also in China, the United Kingdom, and other international markets. It provides courses in 40 different languages including popular ones such as Spanish, English, French, German, Italian, Portuguese, Japanese, and Chinese through its mobile application. Additionally, it offers a digital language proficiency assessment exam to evaluate users’ language skills.
Various brokerages have recently released reports on Duolingo (DUOL). On August 9th this year Piper Sandler increased their price objective on Duolingo from $167.00 to $170.00 while giving the stock an “overweight” rating. Also on August 9th Barclays raised their target price from $136.00 to $149.00 for Duolingo’s shares. However on June 7th JMP Securities downgraded Duolingo from an “outperform” rating to a “market perform” rating. Few days later on June 20th Wolfe Research initiated coverage on Duolingo and labeled it as a “market perform” company.
Taking into account these ratings by multiple analysts to date – four equities research analysts asserting a hold rating and four issuing buy ratings – Bloomberg.com data suggests that Duolingo currently has a consensus rating of “Moderate Buy.” Furthermore, the average target price for Duolingo’s stock is estimated to be $144.38.
It will be interesting to track future developments and changes in Duolingo’s market performance, especially considering the recent reduction of Tower Research Capital’s stake in the company. Investors and analysts alike will be keenly observing the impact of these movements on Duolingo given its unique position as a mobile learning platform offering language courses.
Duolingo, Inc.
DUOL
Buy
Updated on: 29/08/2023
Institutional Investors and Insiders Indicate Confidence in Duolingo’s Growth Potential
Duolingo, Inc., a leading mobile learning platform, has seen several changes in its stock ownership recently. Institutional investors and hedge funds have made adjustments to their positions in the company, indicating shifting market dynamics and potential opportunities for growth.
One such institutional investor is Captrust Financial Advisors, which significantly boosted its holdings in Duolingo by 620.8% during the first quarter. The firm now owns 555 shares of the company’s stock valued at $53,000 after acquiring an additional 478 shares.
Similarly, Lazard Asset Management LLC entered the scene during the fourth quarter by acquiring a new stake in Duolingo worth approximately $58,000. This move suggests a strategic decision to capitalize on the potential value offered by the company’s stock.
HBK Sorce Advisory LLC also demonstrated confidence in Duolingo by lifting its position in shares by 100.0% during the same period. The firm now owns 60,000 shares of the company’s stock valued at $59,000 after acquiring an additional 30,000 shares.
Additionally, Nisa Investment Advisors LLC increased its stake in Duolingo by an impressive 78.1% during the first quarter. The firm now owns 570 shares of the company’s stock valued at $81,000 after acquiring an additional 250 shares.
Lastly, Daiwa Securities Group Inc. showed significant interest in Duolingo as well. The firm grew its holdings in shares by 48.8% during the first quarter and now owns 595 shares valued at $85,000 after acquiring an additional 195 shares.
These changes collectively indicate a high degree of confidence among institutional investors and hedge funds regarding Duolingo’s prospects for future growth and performance.
Duolingo opened at $135.07 on Monday and demonstrates favorable moving average prices with a fifty-day moving average price of $142.48 and a two-hundred-day moving average price of $135.29. This stable moving average suggests that the stock has shown relative consistency in recent months.
The company has a market capitalization of $5.61 billion and operates as a mobile learning platform globally, offering courses in 40 different languages through its Duolingo app. With its wide array of language options, including popular ones like Spanish, English, French, and German, Duolingo caters to a broad user base seeking to develop their language proficiency.
Furthermore, Duolingo provides a digital language proficiency assessment exam, adding value to its offerings by allowing users to gauge their progress and fluency levels accurately.
In related news, CEO Ahn Luis Von made significant transactions involving the company’s stock. On Wednesday, June 14th, the CEO sold 33,334 shares at an average price of $153.17 per share for a total value of $5,105,768.78. This transaction was disclosed in a filing with the Securities & Exchange Commission.
Meanwhile, Director Gillian Munson also participated in stock sales by selling 832 shares on Monday, June 12th at an average price of $156.55 per share for a total value of $130,249.60. Following this transaction, Munson now holds 1,619 shares valued at $253,454.45.
These insider sales indicate strategic moves by key individuals within the organization and should be monitored closely as they may reflect management’s perception of the company’s future prospects.
It is worth noting that insiders have collectively sold 101,355 shares worth approximately $15,125