Frank Rimerman Advisors LLC recently acquired a new position in Duolingo, Inc. (NASDAQ: DUOL) during the 2nd quarter. According to the latest disclosure with the SEC, the firm purchased 99,828 shares of Duolingo’s stock, with an approximate value of $20,831,000. This acquisition makes Duolingo account for about 1.5% of Frank Rimerman Advisors LLC’s investment portfolio, ranking as the 14th largest position in their portfolio. At the end of the reporting period, the firm owned about 0.23% of Duolingo.
In addition to Frank Rimerman Advisors LLC, several other large investors have also been active in buying and selling shares of Duolingo. Larson Financial Group LLC, Blue Trust Inc., GAMMA Investing LLC, Mark Sheptoff Financial Planning LLC, and Fifth Third Bancorp are among the investors who have recently acquired positions in Duolingo. Hedge funds and other institutional investors collectively own 91.59% of the company’s stock.
Insiders at Duolingo have also been making moves in the stock. CEO Ahn Luis Von recently sold 1,000 shares of the company’s stock, while CFO Matthew Skaruppa sold 8,000 shares. These transactions were disclosed in filings with the SEC. In the last ninety days, insiders have sold a total of 97,374 shares of Duolingo stock, amounting to $19,459,527. Corporate insiders now own 18.30% of the company’s stock.
Duolingo’s stock performance has been notable, with NASDAQ DUOL trading up to $268.34 during trading hours. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 276.64, and a beta of 0.76. The company’s 50-day moving average is $198.82, with a 200-day moving average of $204.01.
In terms of financial performance, Duolingo reported $0.51 earnings per share for the quarter, exceeding analysts’ consensus estimates. The company had a return on equity of 9.64% and a net margin of 10.44%. Revenue for the quarter was $178.30 million, surpassing the consensus estimate of $177.13 million. Analysts forecast that Duolingo will post 1.87 earnings per share for the current year.
Several research firms have commented on Duolingo, with varying ratings and target prices. While the stock currently has a “Moderate Buy” rating, some analysts have issued buy and strong-buy ratings for Duolingo. The consensus target price for the stock is $237.40.
Duolingo, Inc. operates as a mobile learning platform offering courses in 40 different languages. The company’s Duolingo app is popular for language learning and digital English language proficiency assessment exams.
In conclusion, Duolingo’s recent activities in acquisitions, insider trading, stock performance, and financial results indicate a strong position in the market. Analysts have varying views on the stock, with some highlighting its potential for growth. Investors and stakeholders will continue to monitor Duolingo’s performance in the coming quarters to assess its future prospects.