Amplitude (NASDAQ:AMPL) Stock Price Up 8.4% – Here’s Why

Amplitude, Inc. (NASDAQ:AMPL)’s share price was up 8.4% during trading on Wednesday . The stock traded as high as $6.93 and last traded at $6.8750. Approximately 997,535 shares changed hands during trading, a decline of 44% from the average daily volume of 1,787,762 shares. The stock had previously closed at $6.34.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMPL. Weiss Ratings restated a “sell (d-)” rating on shares of Amplitude in a report on Monday, December 29th. Morgan Stanley set a $16.00 target price on Amplitude and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Piper Sandler cut their price target on shares of Amplitude from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Robert W. Baird upped their price target on shares of Amplitude from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, December 19th. Finally, UBS Group raised shares of Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Amplitude presently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Amplitude Trading Up 13.5%

The company has a market capitalization of $961.77 million, a price-to-earnings ratio of -8.99 and a beta of 1.48. The stock’s 50 day moving average price is $10.02 and its 200 day moving average price is $10.51.

Insider Transactions at Amplitude

In related news, Director Erica Schultz sold 10,000 shares of Amplitude stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $10.88, for a total transaction of $108,800.00. Following the completion of the sale, the director owned 114,906 shares of the company’s stock, valued at approximately $1,250,177.28. The trade was a 8.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Spenser Skates sold 42,743 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $12.01, for a total transaction of $513,343.43. The SEC filing for this sale provides additional information. Insiders have sold 52,843 shares of company stock valued at $623,343 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amplitude

A number of institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Amplitude by 120.7% during the first quarter. AQR Capital Management LLC now owns 226,486 shares of the company’s stock worth $2,308,000 after purchasing an additional 123,886 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Amplitude by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,399 shares of the company’s stock valued at $473,000 after acquiring an additional 2,038 shares in the last quarter. NewEdge Advisors LLC bought a new position in Amplitude during the first quarter worth about $580,000. Jones Financial Companies Lllp raised its stake in Amplitude by 93,569.0% in the 1st quarter. Jones Financial Companies Lllp now owns 93,669 shares of the company’s stock worth $954,000 after purchasing an additional 93,569 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Amplitude by 60.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 473,491 shares of the company’s stock valued at $4,825,000 after purchasing an additional 177,599 shares during the period. Institutional investors own 73.20% of the company’s stock.

Amplitude Company Profile

Amplitude, Inc is a software company specializing in digital analytics and product intelligence solutions for businesses seeking to optimize user engagement and drive growth. Its core offering, the Amplitude Analytics platform, enables customers to collect and analyze behavioral data from web and mobile applications in real time. The platform provides advanced segmentation, funnel analysis, retention tracking and pathfinding tools that help product, marketing and data teams understand user journeys, identify friction points and measure the impact of new features.

Founded in 2012 by Spenser Skates, Curtis Liu and Jeffrey Wang, Amplitude is headquartered in Redwood City, California, with additional offices spanning North America, Europe and Asia.