Abacus FCF Advisors LLC Reduces Stake in Duolingo by 8,312 Shares

Abacus FCF Advisors LLC has significantly reduced its stake in Duolingo, Inc. by 52.6% during the second quarter, as disclosed in its recent filing with the Securities & Exchange Commission. The firm now holds 7,480 shares of Duolingo after selling 8,312 shares. At the end of the quarter, Abacus FCF Advisors LLC's holdings in Duolingo were valued at $3,067,000.

Other institutional investors have also adjusted their positions in Duolingo recently. Contravisory Investment Management Inc. acquired a new stake in the first quarter valued at approximately $25,000. Rise Advisors LLC increased its stake by 43.6% in the first quarter, now owning 79 shares. Summit Securities Group LLC purchased a new stake valued at approximately $28,000 in the first quarter. Brooklyn Investment Group significantly increased its stake by 4,750% in the same period.

Duolingo's stock opened at $290.90 on Friday, with a market capitalization of $13.33 billion and a price-to-earnings ratio of 119.71. The company reported quarterly earnings of $0.91 per share, surpassing analysts' expectations. Revenue for the quarter increased by 41.5% year-over-year.

Recent research reports indicate that JMP Securities lowered its price target for Duolingo from $475 to $450. Argus initiated coverage with a 'buy' rating and a $575 price target. Wall Street Zen downgraded Duolingo to a 'hold' rating. Morgan Stanley raised its price target from $480 to $500.

Duolingo, Inc operates as a mobile learning platform in the United States, the United Kingdom, and internationally, offering courses in over 40 languages and a digital English proficiency assessment exam.