Needham & Company LLC Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its target price increased by Needham & Company LLC from $385.00 to $400.00 in a research note published on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on DUOL. The Goldman Sachs Group raised their target price on shares of Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. JMP Securities restated a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on Duolingo from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Scotiabank initiated coverage on Duolingo in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 target price on the stock. Finally, Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $369.09.

Duolingo Trading Down 17.0 %

Duolingo stock opened at $312.07 on Friday. Duolingo has a 1 year low of $145.05 and a 1 year high of $441.77. The firm’s 50-day moving average is $359.71 and its 200-day moving average is $310.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The company has a market cap of $13.73 billion, a P/E ratio of 170.53 and a beta of 0.89.

Insiders Place Their Bets

In other news, CFO Matthew Skaruppa sold 3,284 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 transaction of $1,429,459.52. Following the transaction, the chief financial officer now directly owns 59,982 shares in the company, valued at approximately $26,108,964.96. This trade represents a 5.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stephen C. Chen sold 2,064 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total value of $898,087.68. Following the completion of the sale, the general counsel now owns 34,634 shares of the company’s stock, valued at approximately $15,069,946.08. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 305,639 shares of company stock worth $105,445,057. 18.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Duolingo

Several hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC acquired a new position in shares of Duolingo in the 3rd quarter worth approximately $26,000. First Horizon Advisors Inc. bought a new stake in Duolingo during the third quarter worth approximately $29,000. Quarry LP boosted its holdings in Duolingo by 250.0% during the fourth quarter. Quarry LP now owns 91 shares of the company’s stock worth $30,000 after buying an additional 65 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Duolingo in the fourth quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd increased its holdings 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 valued at $33,000 after buying an additional 101 shares in the last quarter. 91.59% of the stock is currently 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.