Amplitude (NASDAQ:AMPL) Trading Down 6.4% – Here’s Why

Amplitude, Inc. (NASDAQ:AMPL)’s stock price was down 6.4% during mid-day trading on Tuesday . The company traded as low as $10.76 and last traded at $10.77. Approximately 141,932 shares were traded during trading, a decline of 47% from the average daily volume of 267,473 shares. The stock had previously closed at $11.51.

Analyst Ratings Changes

Several equities research analysts recently commented on AMPL shares. Robert W. Baird lifted their price objective on Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research report on Friday, December 13th. Piper Sandler raised Amplitude from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $11.00 to $15.00 in a report on Monday. Finally, Scotiabank increased their target price on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Amplitude has an average rating of “Hold” and a consensus target price of $12.14.

Amplitude Stock Performance

The stock has a fifty day moving average of $10.59 and a 200 day moving average of $9.30. The company has a market capitalization of $996.99 million, a P/E ratio of -15.73 and a beta of 1.34.

Insider Transactions at Amplitude

In other news, Director Eric Vishria sold 6,437 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.02, for a total value of $77,372.74. Following the completion of the sale, the director now directly owns 279,771 shares of the company’s stock, valued at $3,362,847.42. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

A number of institutional investors have recently bought and sold shares of AMPL. FMR LLC raised its stake in Amplitude by 0.8% during the 3rd quarter. FMR LLC now owns 8,056,003 shares of the company’s stock valued at $72,262,000 after purchasing an additional 64,574 shares during the period. Geode Capital Management LLC grew its holdings in Amplitude by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock valued at $17,078,000 after buying an additional 126,056 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Amplitude by 56.6% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock worth $13,300,000 after buying an additional 535,624 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Amplitude by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 651,605 shares of the company’s stock worth $5,845,000 after acquiring an additional 20,657 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in Amplitude by 524.9% during the third quarter. Cerity Partners LLC now owns 460,624 shares of the company’s stock valued at $4,132,000 after acquiring an additional 386,915 shares in the last quarter. Hedge funds and other institutional investors 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.