Short Interest in Duolingo, Inc. (NASDAQ:DUOL) Declines By 15.3%

Duolingo, Inc. (NASDAQ:DUOL - Get Free Report) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 1,380,000 shares, a decline of 15.3% from the March 31st total of 1,630,000 shares. Approximately 3.7% of the company's stock are short sold. Based on an average daily volume of 904,700 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Ratings Changes

DUOL has been the subject of a number of research analyst reports. Barclays increased their price target on Duolingo from $330.00 to $375.00 and gave the company an "equal weight" rating in a research report on Friday. JMP Securities reiterated a "market perform" rating on shares of Duolingo in a research note on Friday, February 14th. DA Davidson increased their price target on shares of Duolingo from $410.00 to $470.00 and gave the company a "buy" rating in a research report on Friday. Jefferies Financial Group assumed coverage on shares of Duolingo in a research report on Friday, January 24th. They issued a "hold" rating and a $370.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price target on shares of Duolingo from $340.00 to $403.00 and gave the stock a "neutral" rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $426.29.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 2,667 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total value of $1,160,891.76. Following the completion of the sale, the insider now owns 129,572 shares in the company, valued at $56,400,100.16. This represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ahn Luis Von sold 8,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $434.79, for a total transaction of $3,478,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,868 shares of company stock worth $37,549,300. 18.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Duolingo

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Contravisory Investment Management Inc. bought a new stake in shares of Duolingo during the 1st quarter worth $25,000. Quarry LP lifted its position in Duolingo by 250.0% in the 4th quarter. Quarry LP now owns 91 shares of the company's stock worth $30,000 after buying an additional 65 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Duolingo in the 4th quarter worth approximately $31,000. Garde Capital Inc. purchased a new stake in Duolingo in the first quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Duolingo by 5,050.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company's stock worth $33,000 after acquiring an additional 101 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Duolingo Stock Performance

Shares of NASDAQ:DUOL traded down $3.58 during midday trading on Tuesday, reaching $490.55. 1,492,890 shares of the company traded hands, compared to its average volume of 740,139. Duolingo has a 12 month low of $145.05 and a 12 month high of $504.31. The firm's fifty day moving average price is $328.46 and its two-hundred day moving average price is $338.64. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $22.19 billion, a price-to-earnings ratio of 268.06 and a beta of 0.88.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.20. The firm had revenue of $230.74 million for the quarter, compared to the consensus estimate of $223.15 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm's revenue was up 37.6% on a year-over-year basis. On average, equities analysts expect that Duolingo will post 2.03 earnings per share for the current year.

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.