Duolingo, Inc. (NASDAQ:DUOL – Get Free Report)’s share price dropped 5.8% on Tuesday . The company traded as low as $328.58 and last traded at $330.73. Approximately 331,507 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 514,373 shares. The stock had previously closed at $351.13.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of Duolingo from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. DA Davidson boosted their price target on Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays raised their price objective on Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. UBS Group boosted their price objective on Duolingo from $355.00 to $408.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Seaport Res Ptn cut Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $353.90.
Read Our Latest Analysis on Duolingo
Duolingo Price Performance
Duolingo (NASDAQ:DUOL – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The firm had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. During the same period last year, the firm posted $0.06 EPS. The business’s revenue was up 39.9% on a year-over-year basis. As a group, equities analysts expect that Duolingo, Inc. will post 2.03 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $369.33, for a total value of $553,995.00. Following the transaction, the insider now owns 132,239 shares of the company’s stock, valued at $48,839,829.87. This represents a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ahn Luis Von sold 41,759 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $340.29, for a total value of $14,210,170.11. The disclosure for this sale can be found here. Insiders sold 281,124 shares of company stock worth $95,033,738 in the last quarter. Insiders own 18.30% of the company’s stock.
Institutional Trading of Duolingo
A number of institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC acquired a new position in shares of Duolingo in the 3rd quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new position in shares of Duolingo in the third quarter valued at approximately $29,000. Farther Finance Advisors LLC increased its position in shares of Duolingo by 164.6% during the third quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock worth $36,000 after acquiring an additional 79 shares in the last quarter. R Squared Ltd bought a new stake in shares of Duolingo during the fourth quarter worth $55,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Duolingo by 50.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 180 shares of the company’s stock worth $58,000 after acquiring an additional 60 shares during the period. 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.
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