Amplitude (NASDAQ:AMPL) Shares Gap Up – Here’s What Happened

Amplitude, Inc. (NASDAQ:AMPL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $10.89, but opened at $11.76. Amplitude shares last traded at $11.55, with a volume of 79,952 shares.

Analyst Ratings Changes

AMPL has been the subject of a number of recent research reports. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Friday, December 13th. Piper Sandler raised Amplitude from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $11.00 to $15.00 in a research report on Monday. Robert W. Baird raised their price objective on Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Scotiabank upped their target price on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.14.

Amplitude Stock Down 7.9 %

The firm has a market capitalization of $1.00 billion, a P/E ratio of -15.82 and a beta of 1.34. The business’s 50 day moving average is $10.61 and its 200-day moving average is $9.31.

Insider Activity

In other news, Director Eric Vishria sold 25,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.18, for a total value of $254,500.00. Following the completion of the transaction, the director now owns 286,208 shares of the company’s stock, valued at approximately $2,913,597.44. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Amplitude by 19.5% in the second quarter. Renaissance Technologies LLC now owns 413,100 shares of the company’s stock valued at $3,677,000 after buying an additional 67,500 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Amplitude by 86.8% in the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock valued at $1,405,000 after acquiring an additional 72,806 shares during the last quarter. Barclays PLC boosted its holdings in shares of Amplitude by 371.7% during the 3rd quarter. Barclays PLC now owns 128,537 shares of the company’s stock valued at $1,153,000 after acquiring an additional 101,289 shares in the last quarter. Walleye Capital LLC bought a new stake in Amplitude during the 3rd quarter worth $726,000. Finally, Geode Capital Management LLC increased its holdings in Amplitude by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock worth $17,078,000 after purchasing an additional 126,056 shares in the last quarter. 73.20% of the stock is currently owned by institutional investors and hedge funds.

Amplitude Company Profile

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.