Amplitude (NASDAQ:AMPL) Shares Down 5.8% – Here’s What Happened

Amplitude, Inc. (NASDAQ:AMPL)’s stock price dropped 5.8% on Wednesday . The stock traded as low as $11.62 and last traded at $11.78. Approximately 47,905 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 372,806 shares. The stock had previously closed at $12.51.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley raised Amplitude from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $10.00 to $11.00 in a report on Monday, January 13th. Piper Sandler upgraded Amplitude from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $11.00 to $15.00 in a report on Monday, January 6th. Scotiabank upped their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research note on Friday, December 13th. Finally, Robert W. Baird increased their price target on shares of Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.43.

Amplitude Stock Down 5.4 %

The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -17.69 and a beta of 1.34. The stock has a fifty day moving average price of $10.95 and a 200-day moving average price of $9.57.

Insider Buying and Selling

In other news, Director Eric Vishria sold 6,437 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.02, for a total transaction of $77,372.74. Following the sale, the director now owns 279,771 shares of the company’s stock, valued at $3,362,847.42. The trade was a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amplitude

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMPL. Intech Investment Management LLC purchased a new position in shares of Amplitude during the 3rd quarter worth approximately $128,000. XTX Topco Ltd purchased a new stake in shares of Amplitude in the second quarter valued at $133,000. Blue Trust Inc. grew its holdings in Amplitude by 13.5% in the 3rd quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock valued at $174,000 after buying an additional 2,324 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Amplitude by 19.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,146 shares of the company’s stock valued at $199,000 after acquiring an additional 3,552 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Amplitude by 21.5% in the third quarter. Quantbot Technologies LP now owns 24,390 shares of the company’s stock worth $219,000 after acquiring an additional 4,309 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

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.