Duolingo (NASDAQ:DUOL) Stock Price Up 6.3% – Here’s Why

Duolingo, Inc. (NASDAQ:DUOL) shares traded up 6.3% during mid-day trading on Thursday . The stock traded as high as $341.47 and last traded at $340.14. 187,956 shares were traded during trading, a decline of 57% from the average session volume of 434,455 shares. The stock had previously closed at $319.98.

Analysts Set New Price Targets

DUOL has been the topic of a number of analyst reports. JMP Securities lowered Duolingo from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th. Barclays increased their price target on Duolingo from $183.00 to $295.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Duolingo from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. UBS Group upped their price objective on shares of Duolingo from $355.00 to $408.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Bank of America lowered shares of Duolingo from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $355.00 to $375.00 in a research report on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $353.90.

Duolingo Stock Performance

The firm has a fifty day simple moving average of $337.06 and a 200 day simple moving average of $268.38. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of 191.88 and a beta of 0.87.

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

Insider Activity

In related news, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $313.36, for a total transaction of $470,040.00. Following the completion of the transaction, the insider now owns 136,760 shares in the company, valued at $42,855,113.60. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Skaruppa sold 4,464 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $313.55, for a total value of $1,399,687.20. Following the completion of the sale, the chief financial officer now owns 63,266 shares in the company, valued at $19,837,054.30. This trade represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,124 shares of company stock worth $91,694,238. Corporate insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in Duolingo during the third quarter worth about $26,000. First Horizon Advisors Inc. acquired a new position in shares of Duolingo in the 3rd quarter worth approximately $29,000. Farther Finance Advisors LLC grew its position in Duolingo by 164.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock worth $36,000 after acquiring an additional 79 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Duolingo by 50.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 180 shares of the company’s stock valued at $58,000 after purchasing an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Duolingo in the 3rd quarter valued at $68,000. 91.59% of the stock is owned by institutional investors.

Duolingo Company Profile

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.