Duolingo, Inc. (NYSE:DUOL – Get Rating) traded down 3.3% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $161.11 and last traded at $161.55. 204,583 shares changed hands during trading, a decline of 66% from the average session volume of 607,599 shares. The stock had previously closed at $167.05.
Specifically, General Counsel Stephen C. Chen sold 9,252 shares of the stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $130.43, for a total value of $1,206,738.36. Following the sale, the general counsel now directly owns 26,553 shares in the company, valued at approximately $3,463,307.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Duolingo news, insider Robert Meese sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $160.20, for a total transaction of $801,000.00. Following the sale, the insider now directly owns 200,188 shares in the company, valued at approximately $32,070,117.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen C. Chen sold 9,252 shares of Duolingo stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $130.43, for a total transaction of $1,206,738.36. Following the completion of the transaction, the general counsel now directly owns 26,553 shares in the company, valued at approximately $3,463,307.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,460 shares of company stock worth $8,484,100. Insiders own 19.85% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently weighed in on DUOL. Bank of America increased their target price on Duolingo from $105.00 to $160.00 in a report on Thursday, April 6th. Piper Sandler increased their price objective on Duolingo from $127.00 to $167.00 and gave the stock an “overweight” rating in a report on Wednesday, May 10th. Needham & Company LLC boosted their target price on Duolingo from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. JMP Securities cut shares of Duolingo from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Raymond James lifted their price objective on shares of Duolingo from $109.00 to $117.00 and gave the company an “outperform” rating in a report on Wednesday, March 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Duolingo currently has an average rating of “Moderate Buy” and a consensus price target of $142.38.
Duolingo Price Performance
Duolingo (NYSE:DUOL – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.18. The company had revenue of $115.66 million for the quarter, compared to analysts’ expectations of $112.86 million. Duolingo had a negative net margin of 12.38% and a negative return on equity of 9.22%. Duolingo’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.31) EPS. As a group, sell-side analysts expect that Duolingo, Inc. will post -0.53 EPS for the current fiscal year.
Institutional Investors Weigh In On Duolingo
Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its holdings in shares of Duolingo by 3.3% in the first quarter. Victory Capital Management Inc. now owns 3,014 shares of the company’s stock valued at $430,000 after purchasing an additional 96 shares during the last quarter. Cerity Partners LLC raised its holdings in Duolingo by 0.4% in the 1st quarter. Cerity Partners LLC now owns 45,158 shares of the company’s stock valued at $6,439,000 after acquiring an additional 158 shares during the period. Daiwa Securities Group Inc. lifted its position in Duolingo by 48.8% during the first quarter. Daiwa Securities Group Inc. now owns 595 shares of the company’s stock worth $85,000 after acquiring an additional 195 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Duolingo by 78.1% during the first quarter. Nisa Investment Advisors LLC now owns 570 shares of the company’s stock worth $81,000 after acquiring an additional 250 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Duolingo by 4.9% in the first quarter. Arizona State Retirement System now owns 5,438 shares of the company’s stock valued at $775,000 after purchasing an additional 256 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.
Duolingo Company Profile
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.
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