Duolingo co-founder & CEO Luis von Ahn sells $4.25m in stock

On September 16, 2026, Duolingo co-founder and CEO Luis von Ahn sold 28,292 shares of Class A Common Stock, totaling $4,250,140, through a rule 10b5-1 trading plan established on June 2, 2026. Simultaneously, von Ahn purchased 28,292 shares of Class A Common Stock through option exercises and conversions, valued at $532,232. The current stock price is $141.90, marking a 42% return over the past six months despite a 19% decline year-to-date.

InvestingPro analysis suggests Duolingo is undervalued, ranking it among the most undervalued stocks. The sales of Class A Common Stock were executed at weighted average prices between $150.1749 and $151.54, with a block of 27,272 shares sold at prices between $150.00 and $150.54 per share and another block of 1,020 shares sold at prices between $151.53 and $152.55 per share.

Von Ahn also exercised options to acquire 23,040 Class B Common Stock shares at $14.42 per share and 5,252 Class B Common Stock shares at $38.08 per share, which were later converted into Class A Common Stock. Following these transactions, von Ahn does not own any Class A Common Stock but still holds derivative securities, including 27,960 Class B Common Stock options and 3,368,120 shares of Class B Common Stock.

Duolingo's financial position is robust, with more cash than debt on its balance sheet. Recent SEC filings revealed an inadvertent disclosure of the company's daily active user growth rate, estimated at 27.4% for August 17, 2026, supporting a potential third-quarter growth of 26.0% to 28.0% year-over-year. Analysts from DA Davidson and Evercore ISI have upgraded Duolingo's stock rating to Buy and Outperform, respectively, with price targets reaching $175 and $210, citing improved product offerings and increased earnings estimates for 2027 and 2028.