Duolingo (NASDAQ:DUOL) Shares Up 6.3% – Here’s What Happened

Duolingo, Inc. (NASDAQ:DUOL)’s share price rose 6.3% on Thursday . The company traded as high as $341.47 and last traded at $340.14. Approximately 187,956 shares traded hands during trading, a decline of 57% from the average daily volume of 434,455 shares. The stock had previously closed at $319.98.

Analyst Ratings Changes

Several analysts have issued reports on DUOL shares. Bank of America cut Duolingo from a “buy” rating to a “neutral” rating and increased their target price for the company from $355.00 to $375.00 in a research report on Wednesday, December 11th. Piper Sandler boosted their target price on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Seaport Res Ptn downgraded shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, JMP Securities cut shares of Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $353.90.

Duolingo Trading Up 8.1 %

The stock’s fifty day simple moving average is $336.06 and its 200-day simple moving average is $266.78. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. The firm has a market cap of $15.22 billion, a PE ratio of 187.85 and a beta of 0.87.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The company had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The firm’s revenue was up 39.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, sell-side analysts forecast that Duolingo, Inc. will post 2.02 earnings per share for the current year.

Insider Activity at Duolingo

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total value of $470,040.00. Following the sale, the insider now directly owns 136,760 shares of the company’s stock, valued at approximately $42,855,113.60. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ahn Luis Von sold 41,759 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $340.29, for a total value of $14,210,170.11. The disclosure for this sale can be found here. Insiders have sold a total of 263,124 shares of company stock worth $89,126,238 over the last quarter. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DUOL. Dragoneer Investment Group LLC acquired a new stake in shares of Duolingo during the 2nd quarter worth approximately $204,768,000. FMR LLC grew its position in Duolingo by 26.9% during the third quarter. FMR LLC now owns 2,663,234 shares of the company’s stock valued at $751,085,000 after buying an additional 564,173 shares during the period. International Assets Investment Management LLC grew its position in Duolingo by 30,909.9% during the third quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock valued at $100,135,000 after buying an additional 353,918 shares during the period. Spyglass Capital Management LLC purchased a new position in Duolingo in the third quarter valued at $38,512,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Duolingo in the second quarter worth about $26,919,000. 91.59% of the stock is owned by institutional investors and hedge funds.

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.