Toronado Partners LLC Invests $3.58 Million in Amplitude, Inc. $AMPL

Toronado Partners LLC bought a new position in Amplitude, Inc. (NASDAQ:AMPL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 288,488 shares of the company’s stock, valued at approximately $3,577,000. Amplitude makes up 2.5% of Toronado Partners LLC’s holdings, making the stock its 10th largest position. Toronado Partners LLC owned 0.28% of Amplitude at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMPL. Russell Investments Group Ltd. increased its stake in Amplitude by 33.3% in the 1st quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock worth $59,000 after acquiring an additional 1,455 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Amplitude in the second quarter valued at $132,000. Aigen Investment Management LP bought a new stake in Amplitude in the first quarter worth $114,000. AlphaQuest LLC increased its position in Amplitude by 1,569.9% in the second quarter. AlphaQuest LLC now owns 11,472 shares of the company’s stock worth $142,000 after purchasing an additional 10,785 shares during the last quarter. Finally, Caxton Associates LLP purchased a new stake in Amplitude during the first quarter valued at $131,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Insider Buying and Selling at Amplitude

In related news, CFO Andrew Casey bought 30,000 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $9.99 per share, with a total value of $299,700.00. Following the completion of the purchase, the chief financial officer owned 1,160,608 shares of the company’s stock, valued at $11,594,473.92. This trade represents a 2.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erica Schultz sold 10,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $10.23, for a total transaction of $102,300.00. Following the completion of the transaction, the director owned 107,406 shares in the company, valued at approximately $1,098,763.38. The trade was a 8.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 430,000 shares of company stock valued at $4,710,100 in the last quarter. 23.83% of the stock is owned by insiders.

Analyst Ratings Changes

AMPL has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $16.00 price objective on shares of Amplitude in a research note on Thursday, November 6th. UBS Group upgraded Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, October 31st. DA Davidson reissued a “buy” rating and set a $16.00 price objective on shares of Amplitude in a research note on Monday, September 29th. Robert W. Baird lowered their price objective on Amplitude from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Amplitude in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

Amplitude Price Performance

Shares of NASDAQ AMPL opened at $10.28 on Friday. The company has a market cap of $1.37 billion, a P/E ratio of -12.84 and a beta of 1.51. Amplitude, Inc. has a 1 year low of $7.55 and a 1 year high of $14.88. The firm has a 50-day simple moving average of $10.31 and a two-hundred day simple moving average of $11.43.

Amplitude (NASDAQ:AMPL) last released its earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Amplitude had a negative return on equity of 36.27% and a negative net margin of 31.36%.The firm had revenue of $88.56 million for the quarter, compared to analysts’ expectations of $86.29 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities research analysts expect that Amplitude, Inc. will post -0.62 EPS for the current year.

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.