Insider Selling: Duolingo, Inc. (NASDAQ:DUOL) CFO Sells $1,588,720.00 in Stock

Duolingo, Inc. (NASDAQ:DUOL) CFO Matthew Skaruppa sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $198.59, for a total transaction of $1,588,720.00. Following the completion of the transaction, the chief financial officer now owns 95,731 shares of the company’s stock, valued at $19,011,219.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Matthew Skaruppa also recently made the following trade(s):

• On Friday, May 17th, Matthew Skaruppa sold 2,698 shares of Duolingo stock. The stock was sold at an average price of $177.29, for a total transaction of $478,328.42.
• On Wednesday, May 1st, Matthew Skaruppa sold 8,000 shares of Duolingo stock. The stock was sold at an average price of $223.46, for a total transaction of $1,787,680.00.

Duolingo Stock Performance

Shares of NASDAQ:DUOL opened at $193.82 on Friday. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 199.82 and a beta of 0.73. The company has a 50-day moving average price of $200.94 and a 200-day moving average price of $206.25. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.08. Duolingo, Inc. has a 12 month low of $121.89 and a 12 month high of $251.30.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.27. Duolingo had a net margin of 7.82% and a return on equity of 7.08%. The company had revenue of $167.70 million during the quarter, compared to the consensus estimate of $165.60 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. Duolingo’s revenue was up 44.9% on a year-over-year basis. As a group, equities analysts anticipate that Duolingo, Inc. will post 1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DUOL. Needham & Company LLC boosted their price target on shares of Duolingo from $241.00 to $267.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. began coverage on shares of Duolingo in a research note on Monday, March 11th. They issued an “overweight” rating and a $270.00 price target for the company. Barclays lowered their price target on shares of Duolingo from $243.00 to $230.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. DA Davidson began coverage on shares of Duolingo in a research note on Thursday, June 13th. They issued a “buy” rating and a $250.00 price target for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $265.00 price target (down from $282.00) on shares of Duolingo in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.70.

Hedge Funds Weigh In On Duolingo

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Duolingo by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock worth $747,200,000 after buying an additional 67,004 shares in the last quarter. Whale Rock Capital Management LLC raised its stake in Duolingo by 23.9% in the first quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock worth $281,281,000 after buying an additional 245,599 shares in the last quarter. Wellington Management Group LLP raised its stake in Duolingo by 147.6% in the third quarter. Wellington Management Group LLP now owns 602,200 shares of the company’s stock worth $99,887,000 after buying an additional 358,938 shares in the last quarter. Norges Bank bought a new position in Duolingo in the fourth quarter worth about $84,042,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Duolingo by 73.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after buying an additional 154,659 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

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.