SteelPeak Wealth LLC initiated a new position in Duolingo Inc. by purchasing 10,005 shares. The firm disclosed the acquisition in a recent filing, valuing the stake at approximately $3.22 million.
This move highlights fresh institutional interest in the language-learning platform. Institutional investors collectively hold a significant 91.59% of the company's stock.
The investment follows a period of stock volatility for Duolingo. The company recently surpassed earnings expectations, reporting an EPS of $5.95 against an expected $0.72. However, insiders divested 63,169 shares over the last 90 days. No specific market reaction to the SteelPeak investment was immediately available.