Fortis Capital Management LLC Purchases New Position in Duolingo, Inc. (NASDAQ:DUOL)

Fortis Capital Management LLC acquired a new stake in Duolingo, Inc. (NASDAQ:DUOL) in the third quarter, according to its most recent filing with the SEC. The fund acquired 794 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DUOL. Larson Financial Group LLC bought a new stake in shares of Duolingo during the 2nd quarter valued at $31,000. Blue Trust Inc. bought a new stake in shares of Duolingo during the second quarter valued at about $32,000. GAMMA Investing LLC lifted its holdings in shares of Duolingo by 350.0% in the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after buying an additional 133 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in shares of Duolingo in the second quarter valued at approximately $36,000. Finally, Farther Finance Advisors LLC grew its stake in Duolingo by 164.6% during the third quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Duolingo Trading Up 2.9 %

DUOL stock opened at $323.43 on Thursday. Duolingo, Inc. has a one year low of $145.05 and a one year high of $330.61. The company has a market capitalization of $14.08 billion, a PE ratio of 176.74 and a beta of 0.79. The company’s 50 day moving average price is $277.45 and its two-hundred day moving average price is $223.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business had revenue of $192.59 million during the quarter, compared to the consensus estimate of $189.19 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 39.9% on a year-over-year basis. As a group, analysts predict that Duolingo, Inc. will post 2.02 earnings per share for the current fiscal year.

Insider Activity

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 value of $470,040.00. Following the transaction, the insider now directly owns 136,760 shares of the company’s stock, valued at $42,855,113.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Stephen C. Chen sold 19,464 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $211.55, for a total value of $4,117,609.20. Following the sale, the general counsel now directly owns 35,558 shares of the company’s stock, valued at $7,522,294.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total value of $470,040.00. Following the transaction, the insider now directly owns 136,760 shares of the company’s stock, valued at $42,855,113.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,374 shares of company stock valued at $15,802,382. Insiders own 18.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DUOL shares. JMP Securities downgraded shares of Duolingo from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their target price on Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Seaport Res Ptn cut Duolingo from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. DA Davidson lifted their price target on Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group upped their price objective on shares of Duolingo from $225.00 to $355.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and a consensus price target of $325.44.

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.