Duolingo (NASDAQ:DUOL) Reaches New 1-Year High – Here’s What Happened

Duolingo, Inc. (NASDAQ:DUOL) reached a new 52-week high during trading on Wednesday . The stock traded as high as $441.77 and last traded at $441.39, with a volume of 665840 shares traded. The stock had previously closed at $432.69.

Wall Street Analyst Weigh In

Several research firms have commented on DUOL. Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Scotiabank began coverage on shares of Duolingo in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $425.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of Duolingo in a research note on Friday, February 14th. DA Davidson boosted their target price on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC boosted their target price on shares of Duolingo from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $355.55.

Duolingo Price Performance

The firm has a market capitalization of $19.42 billion, a P/E ratio of 241.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. The stock’s fifty day simple moving average is $352.61 and its 200 day simple moving average is $300.03.

Insiders Place Their Bets

In other news, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $391.46, for a total transaction of $3,914,600.00. Following the transaction, the insider now owns 72 shares in the company, valued at $28,185.12. This represents a 99.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matthew Skaruppa sold 4,464 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $313.55, for a total transaction of $1,399,687.20. Following the transaction, the chief financial officer now owns 63,266 shares in the company, valued at approximately $19,837,054.30. This trade represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 289,624 shares of company stock worth $98,478,298. 18.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Duolingo

Several hedge funds have recently modified their holdings of DUOL. FMR LLC increased its holdings in shares of Duolingo by 39.9% during the fourth quarter. FMR LLC now owns 3,726,561 shares of the company’s stock valued at $1,208,263,000 after acquiring an additional 1,063,327 shares in the last quarter. Norges Bank acquired a new position in shares of Duolingo during the fourth quarter valued at about $152,296,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Duolingo by 548.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company’s stock valued at $152,659,000 after acquiring an additional 398,259 shares in the last quarter. Invesco Ltd. increased its holdings in Duolingo by 53.5% in the 4th quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock worth $351,811,000 after buying an additional 378,225 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Duolingo by 30,909.9% in the 3rd quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock worth $100,135,000 after buying an additional 353,918 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Duolingo Company Profile

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.