Duolingo (NASDAQ:DUOL) Given New $400.00 Price Target at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its price objective hoisted by Needham & Company LLC from $385.00 to $400.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 6.45% from the company’s previous close.

Other analysts have also issued reports about the company. UBS Group raised their target price on Duolingo from $408.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Jefferies Financial Group started coverage on shares of Duolingo in a research report on Friday, January 24th. They issued a “hold” rating and a $370.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of Duolingo in a research note on Friday, February 14th. The Goldman Sachs Group increased their price target on shares of Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Bank of America lowered shares of Duolingo from a “buy” rating to a “neutral” rating and raised their price target for the company from $355.00 to $375.00 in a report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $360.45.

Duolingo Trading Down 2.8 %

DUOL stock opened at $375.78 on Friday. The business has a fifty day moving average price of $360.31 and a 200 day moving average price of $309.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $441.77. The stock has a market capitalization of $16.53 billion, a price-to-earnings ratio of 205.35 and a beta of 0.89.

Insider Buying and Selling

In related news, CFO Matthew Skaruppa sold 4,464 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $313.55, for a total transaction of $1,399,687.20. Following the completion of the sale, the chief financial officer now directly owns 63,266 shares of the company’s stock, valued at approximately $19,837,054.30. This represents a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $369.33, for a total transaction of $553,995.00. Following the completion of the transaction, the insider now directly owns 132,239 shares of the company’s stock, valued at approximately $48,839,829.87. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 305,639 shares of company stock valued at $105,445,057. 18.30% of the stock is owned by company insiders.

Institutional Trading of Duolingo

A number of institutional investors have recently modified their holdings of DUOL. FMR LLC grew its holdings in shares of Duolingo by 39.9% during the fourth quarter. FMR LLC now owns 3,726,561 shares of the company’s stock worth $1,208,263,000 after buying an additional 1,063,327 shares in the last quarter. Norges Bank bought a new stake in Duolingo in the 4th quarter valued at approximately $152,296,000. T. Rowe Price Investment Management Inc. boosted its position in Duolingo by 548.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company’s stock worth $152,659,000 after acquiring an additional 398,259 shares during the last quarter. Invesco Ltd. grew its stake in shares of Duolingo by 53.5% during the 4th quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock worth $351,811,000 after acquiring an additional 378,225 shares in the last quarter. Finally, Spyglass Capital Management LLC acquired a new stake in shares of Duolingo in the third quarter valued at approximately $38,512,000. 91.59% of the stock is currently owned by institutional investors.

Duolingo Company Profile

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.