Short Interest in Duolingo, Inc. (NASDAQ:DUOL) Decreases By 14.6%

Duolingo, Inc. (NASDAQ:DUOL) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,230,000 shares, a drop of 14.6% from the February 13th total of 1,440,000 shares. Currently, 3.3% of the shares of the stock are short sold. Based on an average trading volume of 761,000 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Needham & Company LLC lifted their price target on Duolingo from $385.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 28th. Piper Sandler lifted their price target on Duolingo from $351.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Barclays lifted their price target on Duolingo from $295.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Bank of America cut Duolingo from a “buy” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $375.00 in a report on Wednesday, December 11th. Finally, DA Davidson lifted their price target on Duolingo from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $376.25.

Insider Buying and Selling at Duolingo

In other news, CEO Ahn Luis Von sold 8,000 shares of Duolingo stock in a transaction on Monday, March 17th. The stock was sold at an average price of $293.80, for a total transaction of $2,350,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalie Glance sold 2,667 shares of Duolingo stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $435.28, for a total value of $1,160,891.76. Following the transaction, the insider now directly owns 129,572 shares of the company’s stock, valued at $56,400,100.16. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,499 shares of company stock valued at $28,144,768. 18.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in shares of Duolingo in the third quarter worth $26,000. First Horizon Advisors Inc. bought a new position in shares of Duolingo in the third quarter worth $29,000. Quarry LP grew its stake in shares of Duolingo by 250.0% in the fourth quarter. Quarry LP now owns 91 shares of the company’s stock worth $30,000 after purchasing an additional 65 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Duolingo in the fourth quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Duolingo by 5,050.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock worth $33,000 after purchasing an additional 101 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Duolingo Stock Performance

Duolingo stock opened at $301.12 on Thursday. The stock’s 50 day moving average price is $348.11 and its 200 day moving average price is $318.30. The firm has a market capitalization of $13.62 billion, a PE ratio of 164.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. Duolingo has a one year low of $145.05 and a one year high of $441.77.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.19). The company had revenue of $209.55 million for the quarter, compared to the consensus estimate of $205.49 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. As a group, sell-side analysts expect that Duolingo will post 2.03 EPS for the current fiscal year.

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.