Parallel Advisors LLC Raises Stock Holdings in Amplitude, Inc. (NASDAQ:AMPL)

Parallel Advisors LLC grew its stake in Amplitude, Inc. (NASDAQ:AMPL) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,569 shares of the company’s stock after buying an additional 2,805 shares during the quarter. Parallel Advisors LLC’s holdings in Amplitude were worth $352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMPL. Headlands Technologies LLC purchased a new stake in Amplitude in the fourth quarter worth about $38,000. Aquatic Capital Management LLC increased its position in Amplitude by 176.5% in the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after buying an additional 2,647 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Amplitude by 255.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after buying an additional 5,100 shares in the last quarter. Summit Investment Advisors Inc. increased its position in Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after buying an additional 1,492 shares in the last quarter. Finally, Meros Investment Management LP purchased a new stake in Amplitude in the fourth quarter worth about $102,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Amplitude from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Citigroup upped their price objective on Amplitude from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. DA Davidson dropped their price objective on Amplitude from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Baird R W raised Amplitude from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Robert W. Baird dropped their price objective on Amplitude from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.60.

Amplitude Trading Up 5.1%

Shares of Amplitude stock opened at $12.81 on Wednesday. The stock has a 50 day moving average of $10.19 and a 200 day moving average of $11.05. Amplitude, Inc. has a 12 month low of $7.37 and a 12 month high of $14.88. The firm has a market cap of $1.27 billion, a PE ratio of -16.64 and a beta of 1.40.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The firm had revenue of $79.95 million for the quarter, compared to the consensus estimate of $79.81 million. During the same period in the previous year, the company posted $0.01 earnings per share. Amplitude’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $10.15, for a total transaction of $253,750.00. Following the completion of the transaction, the director now directly owns 261,859 shares of the company’s stock, valued at approximately $2,657,868.85. This represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Catherine Wong sold 3,515 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.75, for a total value of $41,301.25. Following the transaction, the director now directly owns 87,654 shares of the company’s stock, valued at approximately $1,029,934.50. The trade was a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.83% of the stock is owned by corporate insiders.

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.