JMP Securities Reaffirms “Market Perform” Rating for Duolingo (NASDAQ:DUOL)

Duolingo (NASDAQ:DUOL)‘s stock had its “market perform” rating reaffirmed by equities research analysts at JMP Securities in a report issued on Friday,Benzinga reports.

A number of other analysts have also recently issued reports on the company. Scotiabank began coverage on Duolingo in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $425.00 price target on the stock. Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Duolingo in a report on Friday, January 24th. They issued a “hold” rating and a $370.00 target price on the stock. Piper Sandler increased their price target on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, DA Davidson lifted their price objective on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Seven equities research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.55.

Duolingo Stock Performance

NASDAQ DUOL traded down $6.43 during trading hours on Friday, hitting $423.90. The company had a trading volume of 206,410 shares, compared to its average volume of 596,975. The business has a 50 day moving average of $348.29 and a 200-day moving average of $292.59. The company has a market cap of $18.65 billion, a PE ratio of 232.58 and a beta of 0.89. Duolingo has a 1-year low of $145.05 and a 1-year high of $436.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09.

Insiders Place Their Bets

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $369.33, for a total value of $553,995.00. Following the completion of the sale, the insider now owns 132,239 shares of the company’s stock, valued at approximately $48,839,829.87. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $391.46, for a total transaction of $3,914,600.00. Following the transaction, the insider now owns 72 shares in the company, valued at $28,185.12. The trade was a 99.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 289,624 shares of company stock worth $98,478,298. Company insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Institutional investors and hedge funds have recently modified their holdings of the company. Massar Capital Management LP acquired a new position in Duolingo during the fourth quarter worth $2,736,000. MetLife Investment Management LLC raised its stake in shares of Duolingo by 9.4% during the 4th quarter. MetLife Investment Management LLC now owns 22,989 shares of the company’s stock worth $7,454,000 after buying an additional 1,983 shares during the last quarter. NWK Group Inc. purchased a new stake in shares of Duolingo in the 4th quarter worth about $3,405,000. Dimensional Fund Advisors LP grew its stake in Duolingo by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 101,609 shares of the company’s stock valued at $32,946,000 after acquiring an additional 5,910 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Duolingo by 67.6% during the 4th quarter. First Trust Advisors LP now owns 177,152 shares of the company’s stock valued at $57,438,000 after acquiring an additional 71,449 shares in the last quarter. Institutional investors and hedge funds 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.