Needham & Company LLC Boosts Duolingo (NASDAQ:DUOL) Price Target to $400.00

Duolingo (NASDAQ:DUOL) had its price target lifted by investment analysts at Needham & Company LLC from $385.00 to $400.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 6.45% from the company’s previous close.

A number of other equities research analysts have also commented on DUOL. Scotiabank assumed coverage on Duolingo in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $425.00 price objective for the company. Jefferies Financial Group began coverage on shares of Duolingo in a research note on Friday, January 24th. They set a “hold” rating and a $370.00 target price for the company. DA Davidson increased their price objective on Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Duolingo in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $360.45.

Duolingo Price Performance

DUOL opened at $375.78 on Friday. Duolingo has a 12-month low of $145.05 and a 12-month high of $441.77. 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 $16.53 billion, a P/E ratio of 205.35 and a beta of 0.89. The stock has a fifty day moving average of $360.31 and a 200-day moving average of $309.24.

Insider Transactions at Duolingo

In other news, General Counsel Stephen C. Chen sold 2,064 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total transaction of $898,087.68. Following the completion of the transaction, the general counsel now directly owns 34,634 shares of the company’s stock, valued at approximately $15,069,946.08. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $369.33, for a total transaction of $553,995.00. Following the completion of the transaction, the insider now directly owns 132,239 shares of the company’s stock, valued at $48,839,829.87. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 305,639 shares of company stock valued at $105,445,057. 18.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Duolingo

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Duolingo by 39.9% in the 4th 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. Norges Bank bought a new position in shares of Duolingo during the fourth quarter valued at $152,296,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Duolingo by 548.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company’s stock valued at $152,659,000 after acquiring an additional 398,259 shares during the period. Invesco Ltd. boosted its stake in shares of Duolingo by 53.5% in the 4th 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 in the last quarter. Finally, Spyglass Capital Management LLC bought a new stake in shares of Duolingo in the 3rd quarter worth about $38,512,000. 91.59% of the stock is owned by institutional investors and hedge funds.

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.