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

Duolingo, Inc. (NASDAQ:DUOL) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 1,510,000 shares, an increase of 22.8% from the February 28th total of 1,230,000 shares. Based on an average daily volume of 793,400 shares, the days-to-cover ratio is currently 1.9 days. Currently, 4.0% of the company’s shares are sold short.

Duolingo Stock Down 9.1 %

Shares of DUOL traded down $30.67 during midday trading on Thursday, hitting $306.89. The company had a trading volume of 202,081 shares, compared to its average volume of 720,632. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of 167.93 and a beta of 0.92. The company’s 50 day moving average price is $346.76 and its 200 day moving average price is $325.86. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo has a 52 week low of $145.05 and a 52 week high of $441.77.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm had revenue of $209.55 million during the quarter, compared to the consensus estimate of $205.49 million. On average, equities research analysts predict that Duolingo will post 2.03 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on DUOL. Piper Sandler increased their target price on Duolingo from $351.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. The Goldman Sachs Group upped their price target on Duolingo from $275.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Needham & Company LLC lifted their price objective on shares of Duolingo from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Citizens Jmp raised shares of Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a research report on Tuesday, March 18th. Finally, Scotiabank began coverage on shares of Duolingo in a report on Thursday, December 5th. They set a “sector outperform” rating and a $425.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.08.

Insider Buying and Selling

In related news, insider Robert Meese sold 5,351 shares of Duolingo stock in a transaction on Monday, March 24th. The shares were sold at an average price of $320.02, for a total transaction of $1,712,427.02. Following the transaction, the insider now owns 133,805 shares in the company, valued at approximately $42,820,276.10. The trade was a 3.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Natalie Glance sold 3,482 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $319.59, for a total value of $1,112,812.38. Following the completion of the sale, the insider now owns 127,251 shares of the company’s stock, valued at approximately $40,668,147.09. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,332 shares of company stock valued at $33,880,107. 18.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Duolingo

Several institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC acquired a new position in Duolingo in the third quarter worth $26,000. Quarry LP lifted its position in shares of Duolingo by 250.0% in the 4th quarter. Quarry LP now owns 91 shares of the company’s stock worth $30,000 after buying an additional 65 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Duolingo in the 4th quarter valued at about $31,000. Harvest Fund Management Co. Ltd grew its position in shares of Duolingo by 5,050.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock valued at $33,000 after buying an additional 101 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in Duolingo by 1,255.6% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock worth $40,000 after acquiring an additional 113 shares during the period. 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.