Duolingo, Inc. (NASDAQ:DUOL) Short Interest Update

Duolingo, Inc. (NASDAQ:DUOL) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,760,000 shares, a decline of 5.4% from the October 15th total of 1,860,000 shares. Currently, 4.9% of the shares of the company are short sold. Based on an average trading volume of 540,600 shares, the short-interest ratio is currently 3.3 days.

Analyst Ratings Changes

A number of brokerages have weighed in on DUOL. JMP Securities downgraded shares of Duolingo from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th. Bank of America increased their target price on shares of Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Piper Sandler boosted their price target on Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC raised their price objective on Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their price objective on Duolingo from $355.00 to $408.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $331.33.

Duolingo Stock Performance

Duolingo stock opened at $306.92 on Tuesday. The firm has a market capitalization of $13.50 billion, a P/E ratio of 167.72 and a beta of 0.79. The stock has a fifty day moving average price of $283.47 and a two-hundred day moving average price of $225.51. Duolingo has a 52-week low of $145.05 and a 52-week high of $330.61. 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 (NASDAQ:DUOL) last announced its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The business had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm’s revenue for the quarter was up 39.9% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS. As a group, analysts anticipate that Duolingo will post 2.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Duolingo news, insider Robert Meese sold 4,819 shares of Duolingo stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $240.02, for a total value of $1,156,656.38. Following the transaction, the insider now directly owns 157,053 shares of the company’s stock, valued at $37,695,861.06. The trade was a 2.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total value of $470,040.00. Following the completion of the sale, the insider now directly owns 136,760 shares of the company’s stock, valued at $42,855,113.60. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,374 shares of company stock valued at $15,802,382 in the last quarter. Insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

A number of large investors have recently bought and sold shares of DUOL. True Wealth Design LLC acquired a new position in Duolingo in the third quarter worth $26,000. First Horizon Advisors Inc. bought a new stake in Duolingo during the 3rd quarter worth about $29,000. Larson Financial Group LLC acquired a new stake in Duolingo in the 2nd quarter valued at about $31,000. Blue Trust Inc. bought a new position in shares of Duolingo in the second quarter worth about $32,000. Finally, GAMMA Investing LLC lifted its position in shares of Duolingo by 350.0% during the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after purchasing an additional 133 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.