Duolingo (NASDAQ:DUOL) General Counsel Stephen Chen Sells 8,072 Shares

Duolingo, Inc. (NASDAQ:DUOL) General Counsel Stephen Chen sold 8,072 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $149.33, for a total transaction of $1,205,391.76. Following the completion of the transaction, the general counsel directly owned 43,769 shares in the company, valued at $6,536,024.77. This trade represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Duolingo Stock Performance

Shares of Duolingo stock opened at $153.92 on Wednesday. The business’s 50 day moving average price is $138.63 and its 200 day moving average price is $118.70. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.24 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.72 and a current ratio of 2.72. Duolingo, Inc. has a one year low of $87.89 and a one year high of $353.00.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Wednesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. Duolingo had a return on equity of 12.10% and a net margin of 35.88%.The business had revenue of $298.45 million during the quarter, compared to the consensus estimate of $295.58 million. During the same period last year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, research analysts predict that Duolingo, Inc. will post 2.62 EPS for the current year.

Institutional Trading of Duolingo

A number of institutional investors and hedge funds have recently bought and sold shares of DUOL. Bank of America Corp DE lifted its stake in Duolingo by 511.2% during the first quarter. Bank of America Corp DE now owns 1,332,301 shares of the company’s stock worth $131,325,000 after purchasing an additional 1,114,315 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Duolingo by 112.9% in the first quarter. State of Michigan Retirement System now owns 1,193,307 shares of the company’s stock valued at $117,624,000 after purchasing an additional 632,807 shares in the last quarter. Norges Bank purchased a new position in Duolingo in the fourth quarter valued at approximately $86,159,000. Amundi increased its stake in Duolingo by 1,351.7% in the first quarter. Amundi now owns 449,068 shares of the company’s stock valued at $44,265,000 after purchasing an additional 418,134 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Duolingo by 91.3% during the first quarter. Renaissance Technologies LLC now owns 603,806 shares of the company’s stock worth $59,517,000 after purchasing an additional 288,252 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on DUOL. Evercore set a $105.00 price target on shares of Duolingo in a research report on Thursday, August 6th. Bank of America cut shares of Duolingo from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $103.00 to $93.00 in a research report on Tuesday, August 4th. Craig Hallum downgraded shares of Duolingo to a “hold” rating in a report on Tuesday, August 18th. Wells Fargo & Company started coverage on Duolingo in a research report on Tuesday, August 18th. They issued an “overweight” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Duolingo from $125.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $124.38.

About Duolingo

Duolingo, Inc develops digital learning products designed to make education accessible through mobile devices and the web. Its primary product is the Duolingo language-learning platform, which offers courses in numerous languages through interactive, game-like lessons, practice exercises and personalized learning features.

The company also provides the Duolingo English Test, an online English-proficiency assessment used by educational institutions and other organizations. In addition, Duolingo has expanded beyond language learning with products such as Duolingo Math and Duolingo Music, while offering premium subscription features through plans including Super Duolingo and Duolingo Max.

Duolingo serves users internationally, with its applications and online services available across a broad range of geographies.