Duolingo (NASDAQ:DUOL) Stock Price Down 2.8% Following Insider Selling

Duolingo, Inc. (NASDAQ:DUOL) dropped 2.8% during trading on Monday after an insider sold shares in the company. The company traded as low as $202.43 and last traded at $202.77. Approximately 34,557 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 791,815 shares. The stock had previously closed at $208.67.

Specifically, insider Severin Hacker sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $198.61, for a total transaction of $1,986,100.00. Following the transaction, the insider now owns 72 shares of the company’s stock, valued at approximately $14,299.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $198.61, for a total value of $1,986,100.00. Following the completion of the transaction, the insider now directly owns 72 shares in the company, valued at $14,299.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Skaruppa sold 2,698 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $177.29, for a total value of $478,328.42. Following the completion of the sale, the chief financial officer now directly owns 86,709 shares in the company, valued at $15,372,638.61. The disclosure for this sale can be found here. In the last three months, insiders sold 56,198 shares of company stock valued at $11,957,698. Company insiders own 18.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DUOL shares. JMP Securities upgraded shares of Duolingo from a “market perform” rating to a “market outperform” rating and set a $260.00 price target on the stock in a report on Tuesday, May 28th. Barclays lowered their price target on Duolingo from $243.00 to $230.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC raised their price objective on Duolingo from $241.00 to $267.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. DA Davidson began coverage on Duolingo in a research note on Thursday, June 13th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Duolingo in a research report on Monday, March 11th. They set an “overweight” rating and a $270.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, Duolingo currently has a consensus rating of “Moderate Buy” and an average target price of $246.70.

Duolingo Stock Down 0.7 %

The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 199.89 and a beta of 0.73. The firm has a 50-day moving average of $201.81 and a 200 day moving average of $206.42. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.08.

Duolingo (NASDAQ:DUOL) last posted its earnings results on Wednesday, May 8th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.27. The business had revenue of $167.70 million for the quarter, compared to analysts’ expectations of $165.60 million. Duolingo had a net margin of 7.82% and a return on equity of 7.08%. The business’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, sell-side analysts anticipate that Duolingo, Inc. will post 1.74 earnings per share for the current year.

Hedge Funds Weigh In On Duolingo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. increased its position in shares of Duolingo by 5.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,046 shares of the company’s stock worth $231,000 after acquiring an additional 55 shares during the last quarter. 9258 Wealth Management LLC raised its position in shares of Duolingo by 4.4% in the 4th quarter. 9258 Wealth Management LLC now owns 1,529 shares of the company’s stock valued at $347,000 after purchasing an additional 65 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in shares of Duolingo by 0.8% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 8,831 shares of the company’s stock valued at $2,003,000 after buying an additional 72 shares during the last quarter. Xponance Inc. grew its position in shares of Duolingo by 4.8% during the fourth quarter. Xponance Inc. now owns 1,774 shares of the company’s stock worth $402,000 after buying an additional 82 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in shares of Duolingo by 6.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 1,686 shares of the company’s stock worth $382,000 after buying an additional 100 shares during the last quarter. 91.59% of the stock is 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.