Duolingo (NASDAQ:DUOL) Reaches New 1-Year Low After Insider Selling

Duolingo, Inc. (NASDAQ:DUOL) shares reached a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $105.55 and last traded at $107.3250, with a volume of 310680 shares. The stock had previously closed at $112.94.

Specifically, insider Natalie Glance sold 3,545 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $113.51, for a total transaction of $402,392.95. Following the completion of the sale, the insider directly owned 115,380 shares of the company’s stock, valued at approximately $13,096,783.80. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Natalie Glance sold 1,741 shares of Duolingo stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $110.06, for a total transaction of $191,614.46. Following the sale, the insider owned 118,925 shares of the company’s stock, valued at approximately $13,088,885.50. This represents a 1.44% decrease in their position. The SEC filing for this sale provides additional information. In related news, General Counsel Stephen C. Chen sold 1,901 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $113.26, for a total value of $215,307.26. Following the transaction, the general counsel directly owned 30,545 shares in the company, valued at $3,459,526.70. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Duolingo from $300.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. BMO Capital Markets raised Duolingo to a “buy” rating in a research note on Monday, January 12th. Jefferies Financial Group upped their price objective on Duolingo from $210.00 to $220.00 and gave the company a “hold” rating in a report on Thursday, December 11th. Citizens Jmp cut Duolingo from a “market outperform” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Evercore set a $330.00 target price on Duolingo and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $292.37.

Duolingo Stock Down 6.0%

The firm has a fifty day simple moving average of $150.48 and a 200-day simple moving average of $229.60. The company has a market capitalization of $4.91 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.60 and a beta of 0.86. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.07.

Institutional Trading of Duolingo

Several hedge funds have recently bought and sold shares of DUOL. NewEdge Advisors LLC increased its position in shares of Duolingo by 1,868.2% during the first quarter. NewEdge Advisors LLC now owns 433 shares of the company’s stock worth $134,000 after acquiring an additional 411 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Duolingo by 123.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,556 shares of the company’s stock worth $27,190,000 after purchasing an additional 48,451 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Duolingo by 28.3% in the 1st quarter. Focus Partners Wealth now owns 2,021 shares of the company’s stock valued at $628,000 after purchasing an additional 446 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Duolingo in the 2nd quarter valued at about $62,000. Finally, Forum Financial Management LP bought a new stake in shares of Duolingo in the second quarter valued at about $269,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Duolingo Company Profile

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.