Duolingo, Inc. (NASDAQ:DUOL) Sees Significant Decrease in Short Interest

Duolingo, Inc. (NASDAQ:DUOL) saw a significant decrease in short interest in October. As of October 15th, there was short interest totalling 1,860,000 shares, a decrease of 8.4% from the September 30th total of 2,030,000 shares. Approximately 5.2% of the shares of the stock are short sold. Based on an average daily volume of 562,400 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $271.00 target price on shares of Duolingo in a research note on Friday, August 30th. Needham & Company LLC lifted their target price on Duolingo from $245.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Evercore ISI upgraded Duolingo to a “strong-buy” rating in a report on Monday, August 5th. The Goldman Sachs Group lifted their price objective on Duolingo from $198.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Barclays cut their target price on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.22.

Duolingo Price Performance

Shares of NASDAQ:DUOL traded up $0.71 on Friday, hitting $293.68. The company had a trading volume of 374,135 shares, compared to its average volume of 698,689. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. The company has a market cap of $12.79 billion, a PE ratio of 212.29 and a beta of 0.79. Duolingo has a 52-week low of $145.05 and a 52-week high of $311.91. The business has a 50 day moving average of $258.92 and a 200 day moving average of $217.09.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The business had revenue of $178.30 million during the quarter, compared to the consensus estimate of $177.13 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, equities analysts anticipate that Duolingo will post 1.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were 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 owns 144,282 shares of the company’s stock, valued at approximately $23,341,941.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Robert Meese sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $285.04, for a total value of $1,425,200.00. Following the completion of the sale, the insider now owns 142,053 shares of the company’s stock, valued at $40,490,787.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the firm’s 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 sale, the insider now directly owns 144,282 shares of the company’s stock, valued at approximately $23,341,941.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,374 shares of company stock worth $15,575,012. 18.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Duolingo

A number of institutional investors have recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC acquired a new stake in Duolingo in the 2nd quarter valued at $204,768,000. Teachers Retirement System of The State of Kentucky grew its position in shares of Duolingo by 23.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock worth $14,005,000 after buying an additional 12,860 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Duolingo by 73.6% during 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 last quarter. Vanguard Group Inc. boosted its holdings in Duolingo by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock worth $747,200,000 after purchasing an additional 67,004 shares during the period. Finally, State of Michigan Retirement System acquired a new stake in shares of Duolingo during the second quarter worth $1,857,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.