Raymond James Financial Holds $4.92 Million in Duolingo Stock

Raymond James Financial Inc. has reduced its stake in Duolingo, Inc. (NASDAQ:DUOL) by 23.0% during the first quarter, as disclosed in the company's recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,852 shares after selling 4,742 shares, with holdings valued at $4,923,000 at the end of the quarter.

Several other hedge funds and institutional investors have also adjusted their holdings in the stock. Crossmark Global Holdings Inc. increased its holdings by 1.2% in the first quarter, while Larson Financial Group LLC raised its stake by 24.4%. Fifth Third Bancorp and Signaturefd LLC increased their holdings by 20.4% and 90.1%, respectively. Dorsey Wright & Associates also raised its stake by 1.0%. Institutional investors and hedge funds own 91.59% of the company's stock.

Analysts have recently provided their insights on the stock. Wall Street Zen downgraded Duolingo from a 'buy' to a 'hold' rating. Morgan Stanley raised its price target from $480.00 to $500.00, giving an 'overweight' rating. KeyCorp upgraded the stock from 'sector weight' to 'overweight' with a $460.00 price objective. Citizens Jmp lowered its price objective from $475.00 to $450.00. Argus initiated coverage with a 'buy' rating and a $575.00 price objective.

Shares of Duolingo opened at $272.70 on Friday. The company's fifty-day moving average is $351.55, and its 200-day moving average is $384.52. Duolingo, Inc. has a twelve-month low of $204.00 and a high of $544.93. The company maintains a quick ratio of 2.81 and a current ratio of 2.81, with a debt-to-equity ratio of 0.10.

Duolingo operates as a mobile learning platform, offering courses in 40 languages. The company also provides a digital English language proficiency assessment exam.