Amplitude (NASDAQ:AMPL) Shares Down 4.7%

Shares of Amplitude, Inc. (NASDAQ:AMPL) traded down 4.7% during mid-day trading on Wednesday . The company traded as low as $11.84 and last traded at $11.87. 133,756 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 589,360 shares. The stock had previously closed at $12.46.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their target price on Amplitude from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Citigroup raised their target price on Amplitude from $12.00 to $13.00 in a research note on Wednesday, August 9th. Finally, Piper Sandler raised their target price on Amplitude from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, August 10th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.00.

Amplitude Stock Performance

The stock has a 50 day simple moving average of $11.56 and a two-hundred day simple moving average of $11.34. The firm has a market cap of $1.37 billion, a PE ratio of -14.16 and a beta of 1.42.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $67.77 million during the quarter, compared to analyst estimates of $66.90 million. Amplitude had a negative return on equity of 31.01% and a negative net margin of 38.55%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.22) EPS. Equities research analysts forecast that Amplitude, Inc. will post -0.66 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Catherine Wong sold 3,515 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $11.23, for a total value of $39,473.45. Following the completion of the transaction, the director now owns 93,365 shares of the company’s stock, valued at approximately $1,048,488.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Catherine Wong sold 3,515 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $11.23, for a total value of $39,473.45. Following the completion of the transaction, the director now owns 93,365 shares of the company’s stock, valued at approximately $1,048,488.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Dharmesh Thakker sold 63,515 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $10.84, for a total value of $688,502.60. The disclosure for this sale can be found here. 28.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amplitude

Several large investors have recently bought and sold shares of the company. Virginia Retirement Systems ET AL purchased a new stake in Amplitude during the 2nd quarter worth approximately $160,000. California State Teachers Retirement System increased its stake in Amplitude by 2.2% during the 2nd quarter. California State Teachers Retirement System now owns 70,581 shares of the company’s stock worth $776,000 after buying an additional 1,511 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Amplitude by 12.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 167,404 shares of the company’s stock worth $1,841,000 after buying an additional 18,974 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Amplitude by 225.1% in the second quarter. Wells Fargo & Company MN now owns 38,031 shares of the company’s stock valued at $418,000 after purchasing an additional 26,332 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Amplitude by 3.8% in the second quarter. Goldman Sachs Group Inc. now owns 290,708 shares of the company’s stock valued at $3,198,000 after purchasing an additional 10,557 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amplitude Company Profile

Amplitude, Inc provides a digital analytics platform to analyze customer behavior within digital products in the United States and internationally. It offers Amplitude Analytics provides product, marketing, experience analytics, and AI-Driven alerts; Experimentation, a solution that integrates with analytics to plan, deliver, monitor, and analyze tests and product changes; Audience Management tools leverage the data in analytics to build audience lists through behavioral segmentation or machine learning powered predictions; and Data Streaming tools helps to move event data and user profiles to other tools in customers' stacks in real-time to destinations, such as marketing platforms, ad networks, personalization engines, and others; and Amplitude CDP, an insight-driven solution that encompasses the data infrastructure, audience management, and data streaming capabilities.