Matthew Skaruppa Sells 8,000 Shares of Duolingo, Inc. (NASDAQ:DUOL) Stock

Duolingo, Inc. (NASDAQ:DUOL) CFO Matthew Skaruppa sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $198.59, for a total value of $1,588,720.00. Following the completion of the sale, the chief financial officer now owns 95,731 shares in the company, valued at $19,011,219.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $478,328.42.
• On Wednesday, May 1st, Matthew Skaruppa sold 8,000 shares of Duolingo stock. The shares were sold at an average price of $223.46, for a total value of $1,787,680.00.

Duolingo Price Performance

Shares of DUOL stock opened at $193.82 on Thursday. The stock has a 50 day moving average price of $201.36 and a 200 day moving average price of $206.34. Duolingo, Inc. has a 52-week low of $121.89 and a 52-week high of $251.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.22 and a current ratio of 3.22. The firm has a market capitalization of $8.36 billion, a P/E ratio of 199.82 and a beta of 0.73.

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

Institutional Investors Weigh In On Duolingo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Duolingo during the fourth quarter worth approximately $84,042,000. Wellington Management Group LLP grew 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 purchasing an additional 358,938 shares in the last quarter. American Century Companies Inc. purchased a new position in Duolingo during the 3rd quarter worth $48,552,000. Whale Rock Capital Management LLC raised its position in Duolingo by 23.9% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after purchasing an additional 245,599 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Duolingo by 73.6% in the 1st 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 during the period. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DUOL. Barclays decreased their price target on shares of Duolingo from $243.00 to $230.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. DA Davidson started coverage on shares of Duolingo in a report on Thursday, June 13th. They issued a “buy” rating and a $250.00 price target for the company. Piper Sandler reissued an “overweight” rating and set a $265.00 price objective (down from $282.00) on shares of Duolingo in a research note on Friday, May 10th. JPMorgan Chase & Co. began coverage on Duolingo in a research report on Monday, March 11th. They set an “overweight” rating and a $270.00 price objective on the stock. Finally, JMP Securities upgraded Duolingo from a “market perform” rating to a “market outperform” rating and set a $260.00 target price for the company in a report on Tuesday, May 28th. One 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.70.

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.