Duolingo (NASDAQ:DUOL) Hits New 1-Year High at $275.00

Shares of Duolingo, Inc. (NASDAQ:DUOL) reached a new 52-week high during trading on Tuesday . The company traded as high as $275.00 and last traded at $275.00, with a volume of 812 shares trading hands. The stock had previously closed at $270.27.

Analysts Set New Price Targets

Several research analysts have commented on DUOL shares. Bank of America raised Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 target price for the company in a research note on Friday, July 26th. Evercore ISI raised Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. DA Davidson reissued a “buy” rating and set a $250.00 target price on shares of Duolingo in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lowered their target price on Duolingo from $275.00 to $255.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC lowered their target price on Duolingo from $267.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.40.

Duolingo Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. The business has a fifty day simple moving average of $200.38 and a 200-day simple moving average of $204.37. The stock has a market capitalization of $11.63 billion, a P/E ratio of 278.63 and a beta of 0.76.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The company had revenue of $178.30 million for the quarter, compared to analyst estimates of $177.13 million. During the same period in the prior year, the firm earned $0.08 earnings per share. Duolingo’s revenue for the quarter was up 40.6% on a year-over-year basis. Sell-side analysts expect that Duolingo, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total transaction of $242,670.00. Following the transaction, the insider now directly owns 144,282 shares of the company’s stock, valued at $23,341,941.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total value of $242,670.00. Following the completion of the sale, the insider now directly owns 144,282 shares of the company’s stock, valued at approximately $23,341,941.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stephen C. Chen sold 19,464 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the completion of the sale, the general counsel now directly owns 35,558 shares of the company’s stock, valued at $7,522,294.90. The disclosure for this sale can be found here. Insiders have sold 102,374 shares of company stock valued at $20,809,527 over the last ninety days. 18.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Duolingo

Large investors have recently made changes to their positions in the business. Blue Trust Inc. purchased a new stake in shares of Duolingo during the 2nd quarter valued at $32,000. Larson Financial Group LLC bought a new position in shares of Duolingo during the 2nd quarter worth $31,000. GAMMA Investing LLC grew its stake in shares of Duolingo by 350.0% during the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after acquiring an additional 133 shares during the period. Mark Sheptoff Financial Planning LLC bought a new position in shares of Duolingo during the 2nd quarter worth $36,000. Finally, Fifth Third Bancorp bought a new position in shares of Duolingo during the 2nd quarter worth $40,000. 91.59% of the stock is owned by hedge funds and other 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.