MetLife Investment Management LLC Reduces Stock Position in Duolingo, Inc. (NYSE:DUOL)

Posted by Defense World Staff on Mar 1st, 2023

MetLife Investment Management LLC decreased its holdings in Duolingo, Inc. (NYSE:DUOL – Get Rating) by 63.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,773 shares of the company’s stock after selling 21,839 shares during the quarter. MetLife Investment Management LLC’s holdings in Duolingo were worth $1,216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new stake in shares of Duolingo during the second quarter valued at approximately $26,000. Captrust Financial Advisors increased its position in Duolingo by 620.8% in the first quarter. Captrust Financial Advisors now owns 555 shares of the company’s stock worth $53,000 after purchasing an additional 478 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Duolingo in the second quarter worth $111,000. UBS Group AG increased its position in Duolingo by 182.4% in the second quarter. UBS Group AG now owns 2,296 shares of the company’s stock worth $201,000 after purchasing an additional 1,483 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Duolingo by 74.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,216 shares of the company’s stock worth $211,000 after purchasing an additional 945 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Durable Capital Partners Lp acquired 67,789 shares of the stock in a transaction on Thursday, December 15th. The shares were acquired at an average price of $72.82 per share, for a total transaction of $4,936,394.98. Following the transaction, the insider now owns 3,465,153 shares in the company, valued at approximately $252,332,441.46. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Duolingo news, CFO Matthew Skaruppa sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $70.45, for a total value of $352,250.00. Following the sale, the chief financial officer now owns 48,918 shares in the company, valued at approximately $3,446,273.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Durable Capital Partners Lp bought 67,789 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were acquired at an average price of $72.82 per share, for a total transaction of $4,936,394.98. Following the transaction, the insider now directly owns 3,465,153 shares in the company, valued at $252,332,441.46. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 208,082 shares of company stock worth $15,005,337 and have sold 35,393 shares worth $2,964,931. Insiders own 22.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on DUOL shares. Raymond James dropped their price objective on shares of Duolingo from $111.00 to $109.00 and set an “outperform” rating for the company in a research note on Friday, November 11th. Barclays boosted their target price on shares of Duolingo from $83.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 25th. Evercore ISI upped their price objective on shares of Duolingo from $130.00 to $135.00 in a research note on Friday, November 11th. Bank of America lowered their price objective on shares of Duolingo from $130.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 11th. Finally, Piper Sandler lowered their price objective on shares of Duolingo from $119.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, January 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.44.

Duolingo Price Performance

Shares of NYSE DUOL opened at $90.79 on Wednesday. The business’s 50 day moving average price is $84.42 and its 200 day moving average price is $85.12. The firm has a market cap of $3.60 billion, a P/E ratio of -56.39 and a beta of 0.09. Duolingo, Inc. has a 52 week low of $60.50 and a 52 week high of $113.36. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.05.

Duolingo Profile

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Duolingo, Inc develops a language-learning website and mobile app in the United States and China. The company offers courses in 40 different languages, including Spanish, English, French, Japanese, German, Italian, Chinese, Portuguese, and others. It also provides a digital language proficiency assessment exam.