Duolingo, Inc. (NASDAQ:DUOL) Short Interest Update

Duolingo, Inc. (NASDAQ:DUOL) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,860,000 shares, a drop of 8.4% from the September 30th total of 2,030,000 shares. Based on an average daily trading volume, of 562,400 shares, the short-interest ratio is currently 3.3 days. Currently, 5.2% of the shares of the company are sold short.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DUOL shares. Evercore ISI raised Duolingo to a “strong-buy” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their target price on Duolingo from $198.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Barclays decreased their target price on Duolingo from $230.00 to $183.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $271.00 price target on shares of Duolingo in a report on Friday, August 30th. Finally, Bank of America upped their price objective on shares of Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $277.22.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total value of $242,670.00. Following the sale, the insider now owns 144,282 shares in the company, valued at $23,341,941.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Stephen C. Chen sold 19,464 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the sale, the general counsel now owns 35,558 shares in the company, valued at approximately $7,522,294.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $161.78, for a total transaction of $242,670.00. Following the completion of the transaction, the insider now directly owns 144,282 shares of the company’s stock, valued at $23,341,941.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,374 shares of company stock worth $15,575,012. Insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dragoneer Investment Group LLC acquired a new position in Duolingo during the second quarter worth $204,768,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Duolingo by 23.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock worth $14,005,000 after acquiring an additional 12,860 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Duolingo by 73.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock valued at $80,459,000 after acquiring an additional 154,659 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Duolingo by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock valued at $747,200,000 after purchasing an additional 67,004 shares during the period. Finally, State of Michigan Retirement System purchased a new stake in shares of Duolingo in the second quarter valued at about $1,857,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Duolingo Price Performance

Shares of Duolingo stock traded up $0.71 during trading hours on Friday, reaching $293.68. 374,135 shares of the company’s stock were exchanged, compared to its average volume of 698,689. The business has a fifty day moving average of $258.92 and a two-hundred day moving average of $217.09. The company has a market capitalization of $12.79 billion, a P/E ratio of 212.29 and a beta of 0.79. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07. Duolingo has a 1 year low of $145.05 and a 1 year high of $311.91.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.19. The company had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $177.13 million. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. Duolingo’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 EPS. As a group, research analysts predict that Duolingo will post 1.87 earnings per share for the current fiscal year.

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.