Shares of Duolingo, Inc. (DUOL) soared by 5.06% on Tuesday, as the language learning platform emerged as one of the top growth companies with substantial insider ownership in the United States. The stock's surge can be attributed to Duolingo's robust financial performance and promising growth prospects, coupled with the confidence exhibited by insiders through their considerable stake in the company.

Duolingo has demonstrated remarkable financial growth, reporting sales of $178.33 million and a net income of $24.35 million in the second quarter of 2024. Notably, the company achieved profitability this year, marking a significant milestone in its journey. Analysts forecast Duolingo's revenue to grow at an impressive annual rate of 22.3%, outpacing the market average of 8.9%.

Despite trading below its estimated fair value, Duolingo's earnings are expected to grow significantly over the next three years, further fueling investor enthusiasm. The company's 14.7% insider ownership reflects the insiders' confidence in the company's future prospects, aligning their interests with those of shareholders.