Duolingo’s (DUOL) “Neutral” Rating Reiterated at Bank of America

Duolingo (NASDAQ:DUOLGet Free Report)‘s stock had its “neutral” rating reissued by investment analysts at Bank of America in a research report issued on Friday, Marketbeat.com reports. They presently have a $100.00 price target on the stock. Bank of America‘s price target points to a potential downside of 0.57% from the company’s current price.

DUOL has been the topic of several other research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $95.00 price target (down from $200.00) on shares of Duolingo in a research note on Friday. Truist Financial set a $245.00 target price on shares of Duolingo in a research note on Thursday, January 15th. Wells Fargo & Company lowered their price objective on Duolingo from $185.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, January 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 price target (down from $245.00) on shares of Duolingo in a report on Friday. Finally, The Goldman Sachs Group decreased their target price on Duolingo from $425.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Duolingo presently has an average rating of “Hold” and an average target price of $232.37.

Read Our Latest Research Report on DUOL

Duolingo Price Performance

Shares of DUOL traded down $16.88 during mid-day trading on Friday, hitting $100.57. The company’s stock had a trading volume of 11,705,641 shares, compared to its average volume of 2,740,705. Duolingo has a 1-year low of $91.99 and a 1-year high of $544.93. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $146.18 and a 200 day simple moving average of $226.19. The firm has a market capitalization of $4.65 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.60 and a beta of 0.86.

Insider Transactions at Duolingo

In other Duolingo news, General Counsel Stephen C. Chen sold 1,901 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $113.26, for a total transaction of $215,307.26. Following the completion of the sale, the general counsel owned 30,545 shares in the company, valued at $3,459,526.70. The trade was a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Skaruppa sold 3,986 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $113.52, for a total transaction of $452,490.72. Following the sale, the chief financial officer directly owned 31,631 shares in the company, valued at $3,590,751.12. This trade represents a 11.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,939 shares of company stock valued at $1,676,291 over the last 90 days. Insiders own 15.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its position in Duolingo by 1,868.2% in the first quarter. NewEdge Advisors LLC now owns 433 shares of the company’s stock worth $134,000 after buying an additional 411 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Duolingo by 123.9% during the first quarter. Goldman Sachs Group Inc. now owns 87,556 shares of the company’s stock valued at $27,190,000 after buying an additional 48,451 shares during the last quarter. Focus Partners Wealth grew its holdings in Duolingo by 28.3% in the 1st quarter. Focus Partners Wealth now owns 2,021 shares of the company’s stock worth $628,000 after buying an additional 446 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Duolingo in the 2nd quarter valued at approximately $865,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Duolingo during the 2nd quarter valued at $437,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

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About Duolingo

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Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.

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