JPMorgan Chase & Co. Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its price target increased by JPMorgan Chase & Co. from $400.00 to $410.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

DUOL has been the subject of a number of other research reports. DA Davidson boosted their target price on Duolingo from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday. JMP Securities reiterated a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. Scotiabank started coverage on shares of Duolingo in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Duolingo in a report on Friday, January 24th. They set a “hold” rating and a $370.00 price target for the company. Finally, Needham & Company LLC raised their price target on shares of Duolingo from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Duolingo has a consensus rating of “Moderate Buy” and an average target price of $369.09.

Duolingo Price Performance

Shares of NASDAQ:DUOL opened at $312.07 on Friday. The company’s fifty day moving average is $359.71 and its 200 day moving average is $310.14. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo has a 52 week low of $145.05 and a 52 week high of $441.77. The stock has a market cap of $13.73 billion, a PE ratio of 170.53 and a beta of 0.89.

Insider Activity

In other news, insider Severin Hacker sold 188,901 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $339.54, for a total value of $64,139,445.54. Following the completion of the transaction, the insider now owns 72 shares of the company’s stock, valued at approximately $24,446.88. This represents a 99.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $369.33, for a total value of $553,995.00. Following the sale, the insider now owns 132,239 shares in the company, valued at $48,839,829.87. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 305,639 shares of company stock valued at $105,445,057. Corporate insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Several institutional investors and hedge funds have recently added to or reduced their stakes in DUOL. FMR LLC increased its stake in shares of Duolingo by 39.9% in the 4th quarter. FMR LLC now owns 3,726,561 shares of the company’s stock worth $1,208,263,000 after acquiring an additional 1,063,327 shares in the last quarter. Vanguard Group Inc. grew its holdings in Duolingo by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,542,194 shares of the company’s stock worth $1,148,486,000 after purchasing an additional 70,705 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Duolingo by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company’s stock valued at $434,398,000 after purchasing an additional 10,638 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Duolingo by 53.5% during the fourth quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock valued at $351,811,000 after purchasing an additional 378,225 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Duolingo by 3.6% in the 3rd quarter. State Street Corp now owns 1,076,273 shares of the company’s stock worth $303,530,000 after purchasing an additional 36,923 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.