Insider Selling: Duolingo (NASDAQ:DUOL) General Counsel Sells $91,971.20 in Stock

Duolingo, Inc. (NASDAQ:DUOL) General Counsel Stephen Chen sold 820 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $112.16, for a total transaction of $91,971.20. Following the completion of the sale, the general counsel owned 54,784 shares of the company’s stock, valued at approximately $6,144,573.44. This trade represents a 1.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Duolingo Stock Down 1.1%

Shares of NASDAQ:DUOL opened at $105.64 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.62 and a current ratio of 2.62. The company has a market cap of $4.92 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.81 and a beta of 0.90. Duolingo, Inc. has a 52 week low of $87.89 and a 52 week high of $540.30. The firm has a 50 day simple moving average of $101.48 and a 200 day simple moving average of $139.35.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $291.97 million during the quarter, compared to the consensus estimate of $288.60 million. Duolingo had a net margin of 38.44% and a return on equity of 14.07%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. As a group, research analysts expect that Duolingo, Inc. will post 2.84 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of Duolingo from $100.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 5th. Scotiabank reiterated a “sector perform” rating and issued a $100.00 target price (down from $300.00) on shares of Duolingo in a research report on Friday, February 27th. Barclays cut their target price on shares of Duolingo from $230.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, March 2nd. Truist Financial downgraded shares of Duolingo from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Friday, February 27th. Finally, Evercore set a $97.00 target price on shares of Duolingo in a research report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $195.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DUOL. NewEdge Advisors LLC raised its holdings in shares of Duolingo by 1,868.2% during the 1st quarter. NewEdge Advisors LLC now owns 433 shares of the company’s stock valued at $134,000 after purchasing an additional 411 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Duolingo by 123.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,556 shares of the company’s stock valued at $27,190,000 after purchasing an additional 48,451 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Duolingo by 28.3% during the 1st quarter. Focus Partners Wealth now owns 2,021 shares of the company’s stock valued at $628,000 after purchasing an additional 446 shares in the last quarter. Amundi raised its holdings in shares of Duolingo by 142.1% during the 2nd quarter. Amundi now owns 26,075 shares of the company’s stock valued at $10,352,000 after purchasing an additional 15,306 shares in the last quarter. Finally, Gabelli Funds LLC bought a new position in shares of Duolingo during the 2nd quarter valued at $205,000. Institutional investors own 91.59% of the company’s stock.

About Duolingo

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.