Duolingo (NASDAQ:DUOL) Trading Up 7%

Duolingo, Inc. (NASDAQ:DUOL) shares were up 7% during mid-day trading on Tuesday . The stock traded as high as $221.34 and last traded at $219.98. Approximately 356,288 shares traded hands during trading, a decline of 51% from the average daily volume of 724,833 shares. The stock had previously closed at $205.57.

Analysts Set New Price Targets

Several analysts have recently issued reports on DUOL shares. Piper Sandler increased their target price on Duolingo from $217.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Seaport Res Ptn restated a “buy” rating on shares of Duolingo in a research report on Tuesday, February 27th. Barclays upped their price objective on Duolingo from $173.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. UBS Group upped their price objective on Duolingo from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Bank of America upped their price objective on Duolingo from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $245.13.

Duolingo Stock Up 7.1 %

The firm has a 50 day moving average of $210.22 and a 200 day moving average of $202.08. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 645.43 and a beta of 0.84. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.03.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, February 28th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. Duolingo had a return on equity of 2.64% and a net margin of 3.03%. The business had revenue of $150.99 million during the quarter, compared to analysts’ expectations of $146.98 million. As a group, sell-side analysts predict that Duolingo, Inc. will post 1.38 earnings per share for the current year.

Insider Activity

In other news, CFO Matthew Skaruppa sold 8,000 shares of Duolingo stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $178.67, for a total value of $1,429,360.00. Following the completion of the transaction, the chief financial officer now directly owns 69,688 shares in the company, valued at $12,451,154.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $180.07, for a total transaction of $270,105.00. Following the completion of the transaction, the insider now directly owns 129,188 shares in the company, valued at $23,262,883.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Matthew Skaruppa sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $178.67, for a total value of $1,429,360.00. Following the transaction, the chief financial officer now owns 69,688 shares of the company’s stock, valued at $12,451,154.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,223 shares of company stock worth $23,682,665. 19.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Duolingo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its position in shares of Duolingo by 5.0% during the 3rd quarter. Baillie Gifford & Co. now owns 4,488,629 shares of the company’s stock valued at $744,529,000 after purchasing an additional 213,552 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Duolingo by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 3,320,429 shares of the company’s stock valued at $753,239,000 after acquiring an additional 129,290 shares during the period. FMR LLC boosted its holdings in Duolingo by 37.9% during the 3rd quarter. FMR LLC now owns 1,019,641 shares of the company’s stock valued at $169,128,000 after acquiring an additional 280,051 shares during the period. Wellington Management Group LLP boosted its holdings in Duolingo by 147.6% during the 3rd quarter. Wellington Management Group LLP now owns 602,200 shares of the company’s stock valued at $99,887,000 after acquiring an additional 358,938 shares during the period. Finally, Norges Bank purchased a new stake in Duolingo during the 4th quarter valued at about $84,042,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

About Duolingo

Duolingo, Inc operates as a mobile learning platform in the United States, the United Kingdom, and internationally. The company offers courses in 40 different languages, including Spanish, English, French, German, Italian, Portuguese, Japanese, and Chinese through its Duolingo app. It also provides a digital English language proficiency assessment exam.