Duolingo, Inc. (NYSE:DUOL – Get Rating)’s stock price fell 5% on Thursday following insider selling activity. The company traded as low as $96.78 and last traded at $97.21. 5,046 shares were traded during mid-day trading, a decline of 99% from the average session volume of 505,042 shares. The stock had previously closed at $102.34.Specifically, SVP Natalie Glance sold 1,212 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $106.37, for a total transaction of $128,920.44. Following the transaction, the senior vice president now directly owns 131,298 shares of the company’s stock, valued at approximately $13,966,168.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Natalie Glance sold 1,212 shares of Duolingo stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $106.37, for a total transaction of $128,920.44. Following the completion of the sale, the senior vice president now directly owns 131,298 shares in the company, valued at approximately $13,966,168.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Severin Hacker sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $97.95, for a total value of $1,959,000.00. Following the completion of the sale, the insider now owns 72 shares in the company, valued at approximately $7,052.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,931 shares of company stock worth $14,012,183. 22.12% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on DUOL shares. The Goldman Sachs Group lifted their target price on shares of Duolingo to $84.00 in a research report on Thursday, June 9th. Piper Sandler increased their target price on Duolingo from $95.00 to $119.00 and gave the company an “overweight” rating in a report on Friday, June 24th. Needham & Company LLC started coverage on Duolingo in a report on Thursday, July 7th. They issued a “buy” rating and a $115.00 price target for the company. Raymond James upgraded Duolingo from a “market perform” rating to an “outperform” rating and set a $98.00 price objective for the company in a research report on Friday, May 13th. Finally, Barclays lifted their price target on shares of Duolingo from $95.00 to $102.00 in a report on Friday, August 5th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $112.56.
Duolingo Price Performance
The company’s 50-day moving average is $97.16 and its 200-day moving average is $90.83. The firm has a market capitalization of $3.86 billion and a price-to-earnings ratio of -48.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.45 and a quick ratio of 4.45.
Duolingo (NYSE:DUOL – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.12. The company had revenue of $88.39 million for the quarter, compared to analyst estimates of $85.71 million. Duolingo had a negative net margin of 24.06% and a negative return on equity of 14.22%. Duolingo’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS. On average, research analysts expect that Duolingo, Inc. will post -1.67 earnings per share for the current year.
Institutional Investors Weigh In On Duolingo
A number of institutional investors have recently added to or reduced their stakes in DUOL. Nisa Investment Advisors LLC purchased a new position in shares of Duolingo in the 2nd quarter worth about $26,000. Prospera Financial Services Inc purchased a new position in Duolingo in the first quarter valued at approximately $31,000. Evoke Wealth LLC acquired a new position in Duolingo during the second quarter valued at approximately $33,000. Advisor Group Holdings Inc. grew its stake in Duolingo by 80.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 379 shares of the company’s stock worth $41,000 after buying an additional 169 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Duolingo in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 40.17% of the company’s stock.
About Duolingo
Duolingo, Inc develops a language-learning website and mobile app in the United States and China. The company offers courses in 40 different languages, including Spanish, English, French, Japanese, German, Italian, Chinese, Portuguese, and others. It also provides a digital language proficiency assessment exam.