Short Interest in Duolingo, Inc. (NASDAQ:DUOL) Increases By 5.1%

Duolingo, Inc. (NASDAQ:DUOL) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 1,440,000 shares, a growth of 5.1% from the January 15th total of 1,370,000 shares. Currently, 4.0% of the shares of the stock are short sold. Based on an average daily volume of 572,300 shares, the days-to-cover ratio is currently 2.5 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DUOL shares. Bank of America cut Duolingo from a “buy” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $375.00 in a report on Wednesday, December 11th. Needham & Company LLC upped their target price on Duolingo from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. DA Davidson upped their target price on Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their target price on Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Duolingo currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.55.

Insider Activity at Duolingo

In other news, CFO Matthew Skaruppa sold 4,464 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $313.55, for a total transaction of $1,399,687.20. Following the completion of the sale, the chief financial officer now owns 63,266 shares in the company, valued at approximately $19,837,054.30. The trade was a 6.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ahn Luis Von sold 41,759 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $340.29, for a total value of $14,210,170.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 289,624 shares of company stock valued at $98,478,298. 18.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Duolingo by 39.9% during the fourth quarter. FMR LLC now owns 3,726,561 shares of the company’s stock valued at $1,208,263,000 after buying an additional 1,063,327 shares in the last quarter. Vanguard Group Inc. boosted its stake in Duolingo by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,542,194 shares of the company’s stock valued at $1,148,486,000 after buying an additional 70,705 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Duolingo by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company’s stock valued at $434,398,000 after buying an additional 10,638 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Duolingo by 53.5% during the fourth quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock valued at $351,811,000 after purchasing an additional 378,225 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Duolingo by 3.6% during the third quarter. State Street Corp now owns 1,076,273 shares of the company’s stock valued at $303,530,000 after purchasing an additional 36,923 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Duolingo Stock Performance

Shares of NASDAQ:DUOL traded up $8.70 on Tuesday, hitting $441.39. The company’s stock had a trading volume of 665,840 shares, compared to its average volume of 616,711. The stock’s 50-day moving average is $352.61 and its two-hundred day moving average is $300.03. Duolingo has a 12 month low of $145.05 and a 12 month high of $441.77. The company has a market capitalization of $19.42 billion, a price-to-earnings ratio of 241.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09.

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.