Mon Sep 23 22:28:49 UTC 2024: ## Duolingo Insider Sells $1.35 Million in Stock, Investors Remain Bullish

**San Francisco, CA (MarketBeat News) -** Duolingo, Inc. (NASDAQ:DUOL) insider Robert Meese sold 5,000 shares of the company’s stock on September 20th, raising questions among investors. The sale, which totaled $1,350,000, was disclosed in an SEC filing. Meese still holds 147,053 shares, valued at $39,704,310.

Despite the insider sale, Duolingo stock closed Monday at $270.27, up $1.93, with a trading volume of 513,113 shares. The company’s market cap sits at $11.65 billion, and its price-to-earnings ratio stands at 276.64.

Several institutional investors remain bullish on Duolingo. Larson Financial Group LLC, Blue Trust Inc., GAMMA Investing LLC, Mark Sheptoff Financial Planning LLC, and Fifth Third Bancorp all acquired new stakes in the company during the second quarter. Hedge funds and institutional investors own 91.59% of Duolingo’s stock.

Analysts are also generally positive about Duolingo. Piper Sandler reissued an “overweight” rating with a $271.00 price objective, while JPMorgan Chase & Co. maintained an “overweight” rating but lowered their price target from $275.00 to $255.00. Bank of America upgraded Duolingo from “neutral” to “buy” with a $245.00 price target, and DA Davidson restated a “buy” rating with a $250.00 target price.

Despite the insider sale, Duolingo’s stock performance and analyst ratings suggest investors remain optimistic about the company’s future prospects. Duolingo continues to operate as a leading language learning platform, offering courses in 40 languages through its mobile app. The company’s strong growth trajectory and ongoing innovations are likely driving investor confidence.

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