Amplitude (NASDAQ:AMPL) Trading Down 7.3%

Amplitude, Inc. (NASDAQ:AMPL) shares traded down 7.3% during mid-day trading on Wednesday . The stock traded as low as $9.22 and last traded at $9.27. 176,717 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 414,965 shares. The stock had previously closed at $10.00.

Wall Street Analysts Forecast Growth

AMPL has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on shares of Amplitude from $12.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, April 17th. Citigroup cut their price target on shares of Amplitude from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Piper Sandler reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Amplitude in a research report on Wednesday, February 21st. Scotiabank cut shares of Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 target price for the company. in a research note on Wednesday, February 21st. Finally, KeyCorp assumed coverage on Amplitude in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.50.

Amplitude Price Performance

The company has a market cap of $1.12 billion, a P/E ratio of -11.86 and a beta of 1.36. The stock has a 50-day moving average of $10.56 and a 200 day moving average of $11.50.

Amplitude (NASDAQ:AMPL) last released its earnings results on Tuesday, February 20th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. The firm had revenue of $71.40 million during the quarter, compared to the consensus estimate of $71.56 million. Sell-side analysts predict that Amplitude, Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $11.97, for a total transaction of $42,074.55. Following the completion of the transaction, the director now owns 86,335 shares of the company’s stock, valued at $1,033,429.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 28.71% of the company’s stock.

Institutional Trading of Amplitude

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Amplitude by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,737,795 shares of the company’s stock valued at $89,526,000 after acquiring an additional 1,177,465 shares during the period. Sunriver Management LLC increased its position in Amplitude by 28.2% during the 4th quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock valued at $28,529,000 after purchasing an additional 493,046 shares during the period. FMR LLC raised its holdings in Amplitude by 15.1% during the 3rd quarter. FMR LLC now owns 2,949,218 shares of the company’s stock worth $34,122,000 after purchasing an additional 386,413 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Amplitude in the 3rd quarter worth approximately $3,177,000. Finally, Optimus Prime Fund Management Co. Ltd. boosted its stake in shares of Amplitude by 14.3% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,515,100 shares of the company’s stock valued at $19,272,000 after purchasing an additional 190,000 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

About Amplitude

Amplitude, Inc, together with its subsidiaries, provides a digital analytics platform that analyzes customer behavior in the United States and internationally. It offers Amplitude Analytics, which provides real-time product data and reconstructed user visits; Amplitude Experiment, a solution that allows teams to test new capabilities and safely roll out new features; Amplitude CDP, an insight-driven solution that encompasses the data infrastructure, audience management, and data streaming capabilities; and Amplitude Session Replay used by product, marketing, and data teams to understand user behavior, diagnose product issues, and improve product outcomes.