With the latest transaction, Hacker has offloaded over $12 million worth of shares this year.

Duolingo (DUOL) co-founder and Chief Technology Officer Severin Hacker has sold company shares worth $5.3 million, according to a securities filing, his latest divestiture this year.

Hacker sold 10,000 shares in a transaction carried out on June 5.

With the latest transaction, Hacker has offloaded over $12 million worth of shares this year.

While insider share sales are generally considered negative news and signal a potential stock downside, top executives occasionally sell shares for purely compensatory reasons.

Shares fell 3% on Monday.

The latest sale comes at a time of strength for the company and its stock, which currently trades around an all-time high.

Last month, Duolingo reported first-quarter results that beat analysts' expectations, earning upgrades from several analysts.

The language learning platform's revenue grew 38%, and its profit increased, driven by higher subscriptions and revenue per subscriber.

Morgan Stanley recently called it the 'Best-In-Class' Internet stock and upgraded its rating to 'Overweight.'

On Stocktwits, the retail sentiment for Duolingo rose to ‘extremely bullish’ from ‘bullish’ the previous day. 

DUOL sentiment and message volume as of June 9 | Source: Stocktwits

A user called the stock a “growth monster.”

One of the best performers this year, Duolingo stock is up 54% year-to-date compared to the 2.1% rise in the benchmark S&P 500 Index (SPX).

For updates and corrections, email newsroom[at]stocktwits[dot]com.