Legato Capital Management LLC Sells 2,349 Shares of Duolingo, Inc. (NASDAQ:DUOL)

Legato Capital Management LLC decreased its position in shares of Duolingo, Inc. (NASDAQ:DUOL) by 68.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,105 shares of the company’s stock after selling 2,349 shares during the period. Legato Capital Management LLC’s holdings in Duolingo were worth $231,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Duolingo during the 4th quarter worth approximately $4,374,000. Illinois Municipal Retirement Fund acquired a new stake in Duolingo during the fourth quarter worth approximately $744,000. Atria Wealth Solutions Inc. increased its stake in Duolingo by 24.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,815 shares of the company’s stock worth $639,000 after acquiring an additional 550 shares during the period. Kovack Advisors Inc. acquired a new position in Duolingo in the 4th quarter valued at $257,000. Finally, Truist Financial Corp bought a new stake in shares of Duolingo during the 4th quarter valued at $377,000. Institutional investors own 91.59% of the company’s stock.

Duolingo Trading Down 0.7 %

DUOL traded down $1.38 during midday trading on Tuesday, hitting $208.61. 239,264 shares of the company were exchanged, compared to its average volume of 753,263. The firm’s 50 day moving average price is $189.55 and its 200-day moving average price is $200.22. Duolingo, Inc. has a 1-year low of $133.21 and a 1-year high of $251.30. The firm has a market capitalization of $9.00 billion, a P/E ratio of 216.48 and a beta of 0.72. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.08.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. The company had revenue of $178.30 million for the quarter, compared to analyst estimates of $177.13 million. Duolingo had a return on equity of 7.08% and a net margin of 7.82%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, equities analysts forecast that Duolingo, Inc. will post 1.74 EPS for the current fiscal year.

Insider Activity

In other news, CFO Matthew Skaruppa sold 17,591 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Matthew Skaruppa sold 17,591 shares of Duolingo stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total value of $3,646,086.57. Following the completion of the sale, the chief financial officer now owns 88,856 shares in the company, valued at approximately $18,417,183.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total transaction of $242,670.00. Following the transaction, the insider now directly owns 144,282 shares in the company, valued at $23,341,941.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,091 shares of company stock valued at $11,260,132. 18.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DUOL. Barclays decreased their price target on Duolingo from $230.00 to $183.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Bank of America upgraded shares of Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 price objective for the company in a research report on Friday, July 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $260.00 target price on shares of Duolingo in a report on Wednesday, July 10th. Piper Sandler boosted their price target on Duolingo from $265.00 to $271.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Duolingo from $275.00 to $255.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.40.

Duolingo Company Profile

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.