DUOLINGO INC DUOL
CL A COM · Common Stock · CUSIP 26603R106 · ISIN US26603R1068
American online platform for language learning
- SectorTechnology
- IndustryServices-Prepackaged Software
- HeadquartersPittsburgh, PA
- Websiteen.duolingo.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($4.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $208.64. Options: 19 managers hold calls ($176.3m notional), 18 hold puts ($181.3m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 168 |
| Q4 2022 | 155 |
| Q1 2023 | 196 |
| Q2 2023 | 238 |
| Q3 2023 | 244 |
| Q4 2023 | 320 |
| Q1 2024 | 337 |
| Q2 2024 | 357 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 97 | 70 |
| Q1 2023 | 127 | 68 |
| Q2 2023 | 162 | 70 |
| Q3 2023 | 134 | 124 |
| Q4 2023 | 198 | 107 |
| Q1 2024 | 187 | 166 |
| Q2 2024 | 208 | 184 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $63.6m | $77.7m | 1.22 |
| Q4 2023 | $141.8m | $191.1m | 1.35 |
| Q1 2024 | $180.3m | $208.9m | 1.16 |
| Q2 2024 | $176.3m | $181.3m | 1.03 |
Biggest buyers
| Dragoneer Investment Group, LLC | New | +981.3k |
| BlackRock Inc. | Added | +976.5k |
| FMR LLC | Added | +687.1k |
| BIT Capital GmbH | New | +456.5k |
| STATE STREET CORP | Added | +347.2k |
| JANE STREET GROUP, LLC | Added | +241.3k |
| Bank of New York Mellon Corp | Added | +239.0k |
| CROSSLINK CAPITAL INC | New | +175.1k |
| Whale Rock Capital Management LLC | Added | +145.4k |
| Invesco Ltd. | Added | +135.2k |
Biggest sellers
| LORD, ABBETT & CO. LLC | Reduced | -882.0k |
| MORGAN STANLEY | Reduced | -674.4k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -368.8k |
| D. E. Shaw & Co., Inc. | Reduced | -301.5k |
| TWO SIGMA ADVISERS, LP | Reduced | -285.6k |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -258.5k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Sold out | -175.4k |
| Durable Capital Partners LP | Reduced | -161.5k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -157.6k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -136.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $38.1m182.4k shares |
| CITADEL ADVISORS LLC | Added | $35.6m170.5k shares |
| BIT Capital GmbH | New | $20.9m100.0k shares |
| Twin Tree Management, LP | Added | $20.1m96.5k shares |
| JANE STREET GROUP, LLC | Added | $15.5m74.5k shares |
| SIMPLEX TRADING, LLC | Added | $10.4m50.0k shares |
| IMC-Chicago, LLC | Added | $10.2m49.1k shares |
| WOLVERINE TRADING, LLC | Reduced | $9.3m44.8k shares |
| GROUP ONE TRADING LLC | Added | $4.4m21.1k shares |
| Walleye Capital LLC | Added | $2.9m14.1k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $45.5m218.2k shares |
| CITADEL ADVISORS LLC | Added | $35.1m168.2k shares |
| Twin Tree Management, LP | Added | $28.7m137.3k shares |
| JANE STREET GROUP, LLC | Added | $18.8m89.9k shares |
| SIMPLEX TRADING, LLC | Added | $15.1m72.5k shares |
| IMC-Chicago, LLC | Added | $11.5m55.2k shares |
| WOLVERINE TRADING, LLC | Reduced | $8.7m41.9k shares |
| D. E. Shaw & Co., Inc. | Reduced | $6.6m31.7k shares |
| GTS SECURITIES LLC | Added | $5.5m26.3k shares |
| Walleye Capital LLC | Reduced | $1.6m7.9k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BAILLIE GIFFORD & CO 13G · institution -1.1 pts · filed 2026-10-20 | 11.3% |
| von Ahn Luis 13G · exempt (held before listing) filed 2026-08-12 | 8.2% |
| Hacker Severin 13G · exempt (held before listing) filed 2025-04-17 | 7.6% |
| AQR CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-08-12 | 5.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 | 5.1% |
Fell to 5% or below in the last year: Capital World Investors (0.0%, 2026-05-14), FMR LLC (2.7%, 2026-05-06), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2022 | 0 | — | 5 | $4.7m | — |
| Q4 2022 | 0 | — | 5 | $4.2m | — |
| Q1 2023 | 0 | — | 7 | $36.1m | $1.9m |
| Q2 2023 | 0 | — | 9 | $15.4m | $14.7m |
| Q3 2023 | 0 | — | 5 | $8.0m | $7.1m |
| Q4 2023 | 0 | — | 6 | $19.3m | $16.6m |
| Q1 2024 | 0 | — | 8 | $42.5m | $42.2m |
| Q2 2024 | 0 | — | 7 | $20.5m | $20.5m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-06-28 | von Ahn Luis President & CEO, Co-Founder, director | Sold plan | $215.0k1.0k shares |
| 2024-06-14 | Clemens Sara Director | Sold plan | $2.0m10.0k shares |
| 2024-06-06 | Glance Natalie Chief Engineering Officer | Sold plan | $290.3k1.5k shares |
| 2024-06-03 | Hacker Severin Chief Tech Officer, Co-Founder, director · See footnote | Sold plan | $2.0m10.0k shares |
| 2024-06-03 | Skaruppa Matthew Chief Financial Officer | Sold plan | $1.6m8.0k shares |
| 2024-05-17 | Skaruppa Matthew Chief Financial Officer | Sold plan | $478.3k2.7k shares |
| 2024-05-15 | Meese Robert Chief Business Officer | Sold | —1.2k shares |
| 2024-05-15 | Chen Stephen C. General Counsel | Sold | —988 shares |
| 2024-05-15 | Glance Natalie Chief Engineering Officer | Sold | —2.5k shares |
| 2024-05-15 | Skaruppa Matthew Chief Financial Officer | Sold | —2.5k shares |
| 2024-05-06 | Glance Natalie Chief Engineering Officer | Sold plan | $371.7k1.5k shares |
| 2024-05-01 | von Ahn Luis President & CEO, Co-Founder, director | Sold plan | $2.7m12.0k shares |
| 2024-05-01 | Hacker Severin Chief Tech Officer, Co-Founder, director · See footnote | Sold plan | $2.2m10.0k shares |
| 2024-05-01 | Skaruppa Matthew Chief Financial Officer | Sold plan | $1.8m8.0k shares |
| 2024-04-08 | Glance Natalie Chief Engineering Officer | Sold plan | $323.0k1.5k shares |
| 2024-04-01 | von Ahn Luis President & CEO, Co-Founder, director | Sold plan | $2.6m12.0k shares |
| 2024-04-01 | Hacker Severin Chief Tech Officer, Co-Founder, director · See footnote | Sold plan | $2.2m10.0k shares |
| 2024-04-01 | Skaruppa Matthew Chief Financial Officer | Sold plan | $1.7m8.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| BlackRock Inc. 0.02% of their portfolio | 3.5m $724.8m | Added +976.5k |
| VANGUARD GROUP INC 0.01% of their portfolio | 3.5m $721.3m | Added +69.3k |
| BAILLIE GIFFORD & CO 0.56% of their portfolio | 3.4m $712.8m | Reduced -121.4k |
| Durable Capital Partners LP 5.04% of their portfolio | 2.9m $614.2m | Reduced -161.5k |
| FMR LLC 0.03% of their portfolio | 2.1m $438.0m | Added +687.1k |
| Whale Rock Capital Management LLC 4.20% of their portfolio | 1.4m $296.4m | Added +145.4k |
| STATE STREET CORP 0.01% of their portfolio | 1.0m $216.9m | Added +347.2k |
| Dragoneer Investment Group, LLC 3.91% of their portfolio | 981.3k $204.8m | New |
| GILDER GAGNON HOWE & CO LLC 2.05% of their portfolio | 782.8k $163.4m | Reduced -19.4k |
| Foxhaven Asset Management, LP 4.53% of their portfolio | 774.3k $161.6m | Added +52.2k |
| ALLIANCEBERNSTEIN L.P. 0.06% of their portfolio | 765.9k $159.8m | Reduced -120.2k |
| Invesco Ltd. 0.03% of their portfolio | 705.8k $147.3m | Added +135.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 656.3k $137.0m | Reduced -85.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 499.7k $104.3m | Added +135.0k |
| AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio | 499.0k $104.1m | Added +100.2k |
| BIT Capital GmbH 8.64% of their portfolio | 456.5k $95.3m | New |
| NORGES BANK 0.01% of their portfolio | 397.6k $83.0m | Added +40.4k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 395.1k $82.5m | Added +239.0k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 370.1k $77.2m | Added +76.3k |
| AGF MANAGEMENT LTD 0.41% of their portfolio | 355.8k $74.2m | Reduced -4.9k |
| Carnegie Mellon University 99.78% of their portfolio | 353.3k $73.7m | Reduced -5.0k |
| MORGAN STANLEY 0.01% of their portfolio | 346.2k $72.2m | Reduced -674.4k |
| TWO SIGMA ADVISERS, LP 0.16% of their portfolio | 339.4k $70.8m | Reduced -285.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.11% of their portfolio | 315.2k $65.8m | Reduced -136.5k |
| JANE STREET GROUP, LLC 0.07% of their portfolio | 305.5k $63.8m | Added +241.3k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 301.9k $63.0m | Added +88.7k |
| T. Rowe Price Investment Management, Inc. 0.04% of their portfolio | 301.8k $63.0m | Reduced -42.7k |
| Driehaus Capital Management LLC 0.58% of their portfolio | 287.2k $59.9m | Added +12.7k |
| FEDERATED HERMES, INC. 0.14% of their portfolio | 274.4k $57.3m | Added +4.1k |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 271.2k $56.6m | Reduced -79.0k |
| MARSHALL WACE, LLP 0.08% of their portfolio | 261.7k $54.6m | Reduced -46.1k |
| LORD, ABBETT & CO. LLC 0.08% of their portfolio | 241.6k $50.4m | Reduced -882.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 240.6k $50.2m | Reduced -51.8k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 224.9k $46.9m | Reduced -89.7k |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 189.3k $39.5m | Reduced -102.3k |
| ACADIAN ASSET MANAGEMENT LLC 0.12% of their portfolio | 186.7k $39.0m | Reduced -258.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 178.8k $37.3m | Added +120.1k |
| CROSSLINK CAPITAL INC 5.10% of their portfolio | 175.1k $36.5m | New |
| Clearbridge Investments, LLC 0.03% of their portfolio | 173.9k $36.3m | Added +44.4k |
| Artisan Partners Limited Partnership 0.05% of their portfolio | 172.9k $36.1m | Reduced -877 |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.15% of their portfolio | 170.0k $35.5m | Added +43.7k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 158.1k $33.0m | Added +65.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 156.4k $32.6m | Added +46.5k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 155.3k $32.4m | Added +107.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 145.3k $30.3m | Reduced -157.6k |
| FULLER & THALER ASSET MANAGEMENT, INC. 0.12% of their portfolio | 138.6k $28.9m | Added +29.8k |
| Pictet Asset Management Holding SA 0.03% of their portfolio | 138.3k $28.9m | Added +28.8k |
| Hood River Capital Management LLC 0.56% of their portfolio | 129.0k $26.9m | New |
| D. E. Shaw & Co., Inc. 0.04% of their portfolio | 123.8k $25.8m | Reduced -301.5k |
| TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio | 121.3k $25.3m | Reduced -368.8k |
| HRT FINANCIAL LP 0.13% of their portfolio | 106.6k $22.2m | New |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 103.8k $21.7m | Added +64.2k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 103.5k $21.6m | Added +61.7k |
| Frank, Rimerman Advisors LLC 1.47% of their portfolio | 99.8k $20.8m | New |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 95.4k $19.9m | Reduced -69.0k |
| MARK ASSET MANAGEMENT LP 2.50% of their portfolio | 90.8k $18.9m | Added +65.8k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 88.4k $18.4m | Added +27.1k |
| Jasper Ridge Partners, L.P. 0.59% of their portfolio | 87.1k $18.2m | Unchanged |
| ThornTree Capital Partners LP 3.04% of their portfolio | 85.5k $17.8m | Unchanged |
| FIRST TRUST ADVISORS LP 0.02% of their portfolio | 83.2k $17.4m | Reduced -29.4k |
| HIMENSION CAPITAL (SINGAPORE) PTE. LTD. 1.19% of their portfolio | 80.8k $16.9m | Reduced -11.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio | 78.7k $16.4m | Added +33.7k |
| Allen Investment Management, LLC 0.20% of their portfolio | 78.5k $16.4m | Unchanged |
| Allspring Global Investments Holdings, LLC 0.02% of their portfolio | 67.6k $14.1m | Reduced -835 |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.13% of their portfolio | 67.1k $14.0m | Added +12.9k |
| Swiss National Bank 0.01% of their portfolio | 61.4k $12.8m | Added +1.3k |
| Squarepoint Ops LLC 0.05% of their portfolio | 59.7k $12.5m | Reduced -60.1k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 59.5k $12.4m | New |
| Legal & General Group Plc 0.00% of their portfolio | 58.9k $12.3m | Added +29.8k |
| California Public Employees Retirement System 0.01% of their portfolio | 58.8k $12.3m | Added +16.8k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio | 57.7k $12.0m | Added +7.2k |
| OSTERWEIS CAPITAL MANAGEMENT INC 0.62% of their portfolio | 57.4k $12.0m | Added +22.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 55.9k $11.7m | Reduced -44.8k |
| Bridgewater Associates, LP 0.06% of their portfolio | 51.0k $10.6m | Reduced -6.6k |
| Woodline Partners LP 0.10% of their portfolio | 48.7k $10.2m | New |
| CAPITAL FUND MANAGEMENT S.A. 0.11% of their portfolio | 48.3k $10.1m | Reduced -39.2k |
| Cerity Partners LLC 0.03% of their portfolio | 47.5k $9.9m | Added +84 |
| Corebridge Financial, Inc. 0.05% of their portfolio | 47.2k $9.9m | First filing |
| SYCOMORE ASSET MANAGEMENT 1.67% of their portfolio | 46.6k $9.5m | Reduced -5.8k |
| Retirement Systems of Alabama 0.04% of their portfolio | 45.7k $9.5m | New |
| LONG WALK MANAGEMENT LP 3.74% of their portfolio | 38.0k $7.9m | Reduced -5.0k |
| M&G PLC 0.05% of their portfolio | 37.2k $7.8m | Added +4.1k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 36.9k $7.7m | Reduced -38.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 36.0k $7.5m | Added +15.6k |
| CITIGROUP INC 0.01% of their portfolio | 35.9k $7.5m | Added +20.5k |
| Mitsubishi UFJ Trust & Banking Corp 0.02% of their portfolio | 34.0k $7.1m | Reduced -6.8k |
| Renaissance Capital LLC 3.84% of their portfolio | 33.0k $6.9m | Added +13.7k |
| Cresset Asset Management, LLC 0.03% of their portfolio | 32.2k $6.7m | Added +21 |
| Arthedge Capital Management, LLC 5.00% of their portfolio | 32.2k $6.7m | Added +5.5k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 31.6k $6.6m | Added +12.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 30.9k $6.4m | Added +471 |
| ALGERT GLOBAL LLC 0.21% of their portfolio | 29.9k $6.2m | Reduced -14.5k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 27.6k $5.8m | Added +18.0k |
| OBERWEIS ASSET MANAGEMENT INC/ 0.35% of their portfolio | 27.5k $5.7m | Added +8.6k |
| CONSOLIDATED PRESS INTERNATIONAL HOLDINGS LTD 0.72% of their portfolio | 27.3k $5.7m | Added +2.5k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 27.1k $5.6m | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 26.4k $5.5m | Added +19.0k |
| Hillsdale Investment Management Inc. 0.43% of their portfolio | 26.2k $5.5m | Reduced -990 |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 26.2k $5.5m | Reduced -132.8k |
| GREAT LAKES ADVISORS, LLC 0.05% of their portfolio | 24.7k $5.2m | Reduced -34.6k |