Amplitude, Inc. (NASDAQ:AMPL – Get Rating) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 1,460,000 shares, a decrease of 49.7% from the May 15th total of 2,900,000 shares. Based on an average daily trading volume, of 731,200 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.8% of the company’s stock are short sold.
Insider Activity at Amplitude
In related news, major shareholder Us (Ttgp) Ltd. Sc sold 51,898 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $9.74, for a total transaction of $505,486.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Amplitude news, President Thomas Neergaard Hansen sold 22,760 shares of the business’s stock in a transaction on Monday, April 10th. The stock was sold at an average price of $11.67, for a total value of $265,609.20. Following the sale, the president now directly owns 944,634 shares in the company, valued at $11,023,878.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Us (Ttgp) Ltd. Sc sold 51,898 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $9.74, for a total value of $505,486.52. The disclosure for this sale can be found here. In the last three months, insiders sold 525,341 shares of company stock valued at $5,251,139. 45.39% of the stock is owned by insiders.
Hedge Funds Weigh In On Amplitude
A number of large investors have recently modified their holdings of the company. Credit Suisse AG raised its stake in shares of Amplitude by 2.2% during the first quarter. Credit Suisse AG now owns 43,755 shares of the company’s stock worth $544,000 after acquiring an additional 951 shares in the last quarter. Arizona State Retirement System raised its position in Amplitude by 6.5% in the 1st quarter. Arizona State Retirement System now owns 15,924 shares of the company’s stock worth $198,000 after purchasing an additional 973 shares during the period. Legal & General Group Plc lifted its stake in Amplitude by 5.9% in the fourth quarter. Legal & General Group Plc now owns 20,100 shares of the company’s stock worth $243,000 after purchasing an additional 1,112 shares during the last quarter. Alliancebernstein L.P. boosted its position in 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 period. Finally, US Bancorp DE bought a new position in shares of Amplitude during the first quarter valued at about $28,000. 40.90% of the stock is owned by hedge funds and other institutional investors.
Amplitude Stock Up 4.6 %
AMPL opened at $10.82 on Tuesday. The business’s fifty day simple moving average is $10.70 and its 200 day simple moving average is $12.24. Amplitude has a 52 week low of $8.50 and a 52 week high of $19.24. The stock has a market cap of $1.26 billion, a PE ratio of -12.58 and a beta of 1.32.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. William Blair downgraded shares of Amplitude from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 10th. Citigroup lowered their target price on shares of Amplitude from $13.00 to $12.00 in a report on Wednesday, May 10th. Piper Sandler lowered Amplitude from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $19.00 to $9.00 in a report on Wednesday, May 10th. DA Davidson began coverage on Amplitude in a research note on Tuesday, March 14th. They set a “neutral” rating and a $13.00 price objective on the stock. Finally, Bank of America reduced their target price on Amplitude from $20.00 to $18.00 in a report on Thursday, April 6th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.