Amplitude, Inc. (NASDAQ:AMPL) Short Interest Down 5.5% in April

Amplitude, Inc. (NASDAQ:AMPL) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 1,710,000 shares, a drop of 5.5% from the March 31st total of 1,810,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average trading volume of 457,900 shares, the short-interest ratio is presently 3.7 days.

Insider Buying and Selling

In other news, Director Catherine Wong sold 3,515 shares of Amplitude stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $11.97, for a total transaction of $42,074.55. Following the completion of the sale, the director now directly owns 86,335 shares in the company, valued at $1,033,429.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 28.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amplitude

Several hedge funds and other institutional investors have recently made changes to their positions in AMPL. Vanguard Group Inc. increased its holdings 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 purchasing an additional 1,177,465 shares in the last quarter. Sunriver Management LLC grew its stake in shares of Amplitude by 28.2% in the fourth quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock valued at $28,529,000 after buying an additional 493,046 shares in the last quarter. FMR LLC raised its holdings in shares of Amplitude by 15.1% during the 3rd quarter. FMR LLC now owns 2,949,218 shares of the company’s stock valued at $34,122,000 after buying an additional 386,413 shares during the period. CenterBook Partners LP purchased a new stake in shares of Amplitude during the 3rd quarter valued at about $3,177,000. Finally, Optimus Prime Fund Management Co. Ltd. lifted its position in Amplitude by 14.3% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,515,100 shares of the company’s stock worth $19,272,000 after acquiring an additional 190,000 shares in the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Amplitude in a research report on Wednesday, February 21st. KeyCorp began coverage on Amplitude in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Scotiabank downgraded shares of Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 price objective for the company. in a research note on Wednesday, February 21st. Morgan Stanley cut their price objective on shares of Amplitude from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, April 17th. Finally, Citigroup lowered their target price on shares of Amplitude from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

Amplitude Trading Up 0.3 %

AMPL stock opened at $9.95 on Tuesday. The company has a market cap of $1.20 billion, a PE ratio of -12.76 and a beta of 1.37. The stock has a 50-day moving average price of $10.85 and a two-hundred day moving average price of $11.52. Amplitude has a 12-month low of $8.50 and a 12-month high of $14.42.

Amplitude (NASDAQ:AMPL) last posted its earnings results on Tuesday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $71.40 million for the quarter, compared to analyst estimates of $71.56 million. Amplitude had a negative return on equity of 27.73% and a negative net margin of 32.71%. Equities analysts forecast that Amplitude will post -0.62 EPS for the current fiscal 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.