Amplitude, Inc. (NASDAQ:AMPL – Free Report) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 1,190,000 shares, a drop of 18.5% from the May 31st total of 1,460,000 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 743,400 shares, the days-to-cover ratio is currently 1.6 days.
Insider Activity at Amplitude
In related news, major shareholder Us (Ttgp) Ltd. Sc sold 8,408 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $10.06, for a total value of $84,584.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Us (Ttgp) Ltd. Sc sold 8,408 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $10.06, for a total transaction of $84,584.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Patrick W. Grady sold 258,882 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $10.06, for a total value of $2,604,352.92. Following the transaction, the director now directly owns 9,943 shares in the company, valued at $100,026.58. The disclosure for this sale can be found here. Insiders sold 525,341 shares of company stock worth $5,251,139 in the last quarter. 28.71% of the stock is owned by company insiders.
Institutional Investors Weigh In On Amplitude
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Suisse AG grew its position in shares of Amplitude by 2.2% in the first quarter. Credit Suisse AG now owns 43,755 shares of the company’s stock valued at $544,000 after purchasing an additional 951 shares during the last quarter. Arizona State Retirement System raised its position in shares of Amplitude by 6.5% during the first quarter. Arizona State Retirement System now owns 15,924 shares of the company’s stock valued at $198,000 after buying an additional 973 shares during the last quarter. Legal & General Group Plc raised its position in shares of Amplitude by 5.9% during the fourth quarter. Legal & General Group Plc now owns 20,100 shares of the company’s stock valued at $243,000 after buying an additional 1,112 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Amplitude by 2.1% during the fourth quarter. Alliancebernstein L.P. now owns 59,660 shares of the company’s stock valued at $721,000 after buying an additional 1,226 shares during the last quarter. Finally, US Bancorp DE acquired a new position in shares of Amplitude during the first quarter valued at about $28,000. 42.93% of the stock is owned by institutional investors and hedge funds.
Amplitude Price Performance
Shares of NASDAQ:AMPL opened at $10.96 on Wednesday. Amplitude has a fifty-two week low of $8.50 and a fifty-two week high of $19.24. The business has a 50-day moving average of $10.44 and a two-hundred day moving average of $11.98. The stock has a market capitalization of $1.27 billion, a P/E ratio of -12.74 and a beta of 1.42.
Amplitude (NASDAQ:AMPL – Free Report) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). The company had revenue of $66.48 million for the quarter, compared to the consensus estimate of $65.01 million. Amplitude had a negative return on equity of 32.40% and a negative net margin of 38.76%. As a group, research analysts expect that Amplitude will post -0.64 EPS for the current fiscal year.
Analysts Set New Price Targets
AMPL has been the topic of several recent analyst reports. William Blair lowered Amplitude from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 10th. DA Davidson started coverage on Amplitude in a report on Tuesday, March 14th. They issued a “neutral” rating and a $13.00 price objective on the stock. Citigroup cut their price objective on shares of Amplitude from $13.00 to $12.00 in a research report on Wednesday, May 10th. Bank of America decreased their target price on shares of Amplitude from $20.00 to $18.00 in a research report on Thursday, April 6th. Finally, Piper Sandler downgraded shares of Amplitude from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $9.00 in a report on Wednesday, May 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Amplitude currently has an average rating of “Hold” and a consensus target price of $15.25.
About Amplitude
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.