This trade was executed as part of the hacker’s pre-defined Rule 10b5-1 trading plan, adopted on September 11, 2024. Following these sales, the hackers will retain direct ownership of 72 shares of Duolingo’s (NASDAQ:) Class A common stock. In addition to the sale, the filing also reported that the hackers exercised stock options on 10,000 shares of Class B common stock, which were converted into Class A common stock. The options have an exercise price of $14.42 per share, and these shares are currently directly owned by the hackers. According to InvestingPro’s analysis, the stock appears to be overvalued at current levels, despite showing strong momentum with a 74.39% return over the past six months. These transactions highlight Mr. Hacker’s continued involvement in Duolingo’s share structure as a director and officer of the company. For more insight into Duolingo’s valuation and financial health, check out the comprehensive professional research report available on InvestingPro.
This transaction was executed as part of the hacker’s pre-defined Rule 10b5-1 trading plan, which was adopted on September 11, 2024. Following these sales, the hackers will retain direct ownership of 72 shares of Duolingo’s Class A common stock.
In addition to the sale, the filing also reported that the hackers exercised stock options on 10,000 shares of Class B common stock, which were converted into Class A common stock. The options have an exercise price of $14.42 per share, and these shares are currently directly owned by the hackers.
These transactions highlight Hacker’s continued involvement in Duolingo’s share structure as a director and officer of the company.
In other recent news, Duolingo Inc. reported strong growth in its Q3 2024 earnings report, including a significant 54% increase in daily active users and raised its full-year outlook. The company expects bookings to increase by 36% and revenue to increase by 40%. The language learning platform has also expanded its AI-powered video calling capabilities to around half of its users, with plans to expand further.
On the analyst side, after visiting Duolingo’s new office in New York City, Needham maintained his rating on Duolingo as a “buy” and raised his price target from $370 to $385. The company believes Duolingo’s new phase of growth, driven by its GenAI-powered capabilities, justifies the premium multiple despite the stock’s current high valuation.
However, BofA Securities lowered Duolingo’s rating from “buy” to “neutral,” while raising its price target from $355 to $375. The company pointed out that the stock is currently trading at an all-time high, so there is little room for upside. Despite the positive long-term outlook, BofA Securities downgraded the company’s rating.
These are among Duolingo’s recent developments that are focused on expanding its English learning content and features specifically for Android users. The company’s strategy, including the use of GenAI to attract new English language learners, is a key driver of growth.
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