Duolingo, Inc. (NASDAQ: DUOL) confirmed through a Securities and Exchange Commission Form 4 filing that Chief Financial Officer Matthew Skaruppa sold a total of $658,303 of the company’s Class A common stock in transactions conducted on February 17 and 18.
The filing details two separate dates of activity. On February 17, Skaruppa sold 1,870 shares at $110.06 per share, totaling $205,812. The following day, February 18, he sold an additional 3,986 shares. Those February 18 trades occurred at prices ranging from $112.2562 to $115.2866 and amounted to $452,491. The filing notes the sales were executed pursuant to a Rule 10b5-1 trading plan that Skaruppa adopted on May 27, 2025.
After these transactions, Skaruppa directly owns 31,631 shares of Duolingo common stock, the filing shows.
Market context
The insider sales took place while Duolingo shares were trading near a 52-week low of $107.16. Over the past year the stock has declined 74% from prior levels. An InvestingPro analysis cited in the filing indicates that, despite recent price weakness, the company is trading below its Fair Value and that investors can access additional valuation metrics and 16 InvestingPro Tips for further context.
Recent corporate and competitive developments
The company’s share price has also been influenced by external product announcements and analyst commentary. The filing notes that T-Mobile’s launch of a real-time AI translation service coincided with a 5.5% drop in Duolingo shares after that announcement. Several brokerages and research houses have issued or refreshed ratings and price targets in recent coverage of Duolingo.
KeyBanc Capital Markets retained a Sector Weight rating, citing concerns about growth despite a positive fourth-quarter preannouncement. Citizens maintained a Market Perform rating while highlighting Duolingo’s expansion into advertising and noting character-led ads that showed encouraging engagement metrics.
DA Davidson lowered its price target to $170 from $205 and maintained a Neutral rating, expressing concerns about user growth. By contrast, Truist Securities reiterated a Buy rating and set a $245 price target, pointing to Duolingo’s progress in applying artificial intelligence to product development and personalization.
What the filing shows
The Form 4 provides the concrete transaction details - specific share counts, prices per share for each trading date, and the date the 10b5-1 plan was put in place - and records Skaruppa’s remaining direct ownership. No additional commentary from the company or the insider is included in the filing.
Given the information contained in the filing and accompanying analyst notes, the record provides a snapshot of executive selling activity occurring alongside broader market pressures and varied analyst perspectives on Duolingo’s growth and AI initiatives.