Insider Selling: Duolingo (NASDAQ:DUOL) CEO Sells $7,031,709.66 in Stock

Duolingo, Inc. (NASDAQ:DUOL) CEO Luis van Ahn sold 46,682 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $150.63, for a total value of $7,031,709.66. Following the transaction, the chief executive officer owned 46,682 shares in the company, valued at $7,031,709.66. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ahn Luis Von also recently made the following trade(s):

• On Tuesday, September 22nd, Luis van Ahn sold 3,614 shares of Duolingo stock. The shares were sold at an average price of $151.91, for a total value of $549,002.74.
• On Monday, September 21st, Luis van Ahn sold 37,366 shares of Duolingo stock. The stock was sold at an average price of $150.53, for a total value of $5,624,703.98.
• On Wednesday, September 16th, Luis van Ahn sold 28,292 shares of Duolingo stock. The shares were sold at an average price of $150.22, for a total transaction of $4,250,024.24.

Duolingo Trading Down 6.4%

Duolingo stock traded down $9.21 during trading hours on Monday, reaching $134.30. The company had a trading volume of 1,622,727 shares, compared to its average volume of 1,881,327. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.72. Duolingo, Inc. has a 12-month low of $87.89 and a 12-month high of $353.00. The company has a 50-day moving average price of $141.32 and a 200 day moving average price of $121.17. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.18 and a beta of 0.89.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $298.45 million for the quarter, compared to analyst estimates of $295.58 million. Duolingo had a return on equity of 12.10% and a net margin of 35.88%.The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. Equities analysts forecast that Duolingo, Inc. will post 2.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in Duolingo by 511.2% in the first quarter. Bank of America Corp DE now owns 1,332,301 shares of the company’s stock worth $131,325,000 after acquiring an additional 1,114,315 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Duolingo by 112.9% in the 1st quarter. State of Michigan Retirement System now owns 1,193,307 shares of the company’s stock worth $117,624,000 after acquiring an additional 632,807 shares during the period. Norges Bank acquired a new position in Duolingo during the fourth quarter worth $86,159,000. Amundi increased its holdings in Duolingo by 1,351.7% in the first quarter. Amundi now owns 449,068 shares of the company’s stock valued at $44,265,000 after buying an additional 418,134 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Duolingo by 91.3% in the first quarter. Renaissance Technologies LLC now owns 603,806 shares of the company’s stock valued at $59,517,000 after purchasing an additional 288,252 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DUOL shares. Citigroup raised shares of Duolingo from a “hold” rating to a “buy” rating in a report on Tuesday, August 18th. Argus reissued a “hold” rating and issued a $146.00 target price on shares of Duolingo in a report on Tuesday, August 25th. KeyCorp raised Duolingo from a “hold” rating to an “overweight” rating in a research note on Tuesday, August 18th. DA Davidson reiterated a “buy” rating and set a $175.00 price objective on shares of Duolingo in a research report on Monday, September 14th. Finally, Wall Street Zen raised shares of Duolingo from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Duolingo presently has a consensus rating of “Hold” and a consensus target price of $124.38.

About Duolingo

Duolingo, Inc develops digital learning products designed to make education accessible through mobile devices and the web. Its primary product is the Duolingo language-learning platform, which offers courses in numerous languages through interactive, game-like lessons, practice exercises and personalized learning features.

The company also provides the Duolingo English Test, an online English-proficiency assessment used by educational institutions and other organizations. In addition, Duolingo has expanded beyond language learning with products such as Duolingo Math and Duolingo Music, while offering premium subscription features through plans including Super Duolingo and Duolingo Max.

Duolingo serves users internationally, with its applications and online services available across a broad range of geographies.