Short Interest in Duolingo, Inc. (NASDAQ:DUOL) Drops By 5.4%

Duolingo, Inc. (NASDAQ:DUOL) was the target of a significant decline in short interest in 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. Based on an average daily volume of 540,600 shares, the short-interest ratio is presently 3.3 days. Approximately 4.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DUOL shares. JPMorgan Chase & Co. boosted their target price on Duolingo from $303.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. UBS Group lifted their price objective on shares of Duolingo from $355.00 to $408.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Evercore ISI upgraded shares of Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. Finally, JMP Securities downgraded Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $331.33.

Insider Buying and Selling

In related news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.51, for a total transaction of $311,265.00. Following the completion of the transaction, the insider now owns 139,760 shares in the company, valued at approximately $29,001,597.60. The trade was a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Meese sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $285.04, for a total transaction of $1,425,200.00. Following the completion of the sale, the insider now directly owns 142,053 shares of the company’s stock, valued at $40,490,787.12. The trade was a 3.40 % decrease in their position. 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 over the last three months. Company insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Hedge funds and other institutional investors have recently modified their holdings of the company. ProShare Advisors LLC boosted its position in shares of Duolingo by 9.8% during the first quarter. ProShare Advisors LLC now owns 5,320 shares of the company’s stock valued at $1,173,000 after buying an additional 475 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Duolingo by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock worth $747,200,000 after acquiring an additional 67,004 shares during the last quarter. Covestor Ltd grew its stake in shares of Duolingo by 30.6% in the 1st quarter. Covestor Ltd now owns 939 shares of the company’s stock worth $207,000 after acquiring an additional 220 shares in the last quarter. Seven Eight Capital LP raised its holdings in shares of Duolingo by 550.3% in the first quarter. Seven Eight Capital LP now owns 10,854 shares of the company’s stock valued at $2,394,000 after purchasing an additional 9,185 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of Duolingo during the first quarter valued at about $28,555,000. Institutional investors own 91.59% of the company’s stock.

Duolingo Stock Performance

Shares of DUOL stock opened at $306.92 on Tuesday. The stock has a market capitalization of $13.50 billion, a PE ratio of 167.72 and a beta of 0.79. The business’s 50 day simple moving average is $283.47 and its 200 day simple moving average is $225.51. 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 one year low of $145.05 and a one year high of $330.61.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The firm had revenue of $192.59 million during the quarter, compared to analyst estimates of $189.19 million. During the same period last year, the company posted $0.06 EPS. The business’s quarterly revenue was up 39.9% on a year-over-year basis. As a group, research analysts forecast that Duolingo will post 2.02 earnings per share for the current year.

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.