Amplitude, Inc. (NASDAQ:AMPL) Sees Significant Drop in Short Interest

Amplitude, Inc. (NASDAQ:AMPL) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 1,350,000 shares, a decline of 21.5% from the November 30th total of 1,720,000 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 409,400 shares, the days-to-cover ratio is currently 3.3 days.

Insider Buying and Selling

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

Hedge Funds Weigh In On Amplitude

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in Amplitude by 0.8% in the third 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 last quarter. Geode Capital Management LLC increased its stake in shares of Amplitude by 7.1% in the third quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock worth $17,078,000 after buying an additional 126,056 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in Amplitude by 56.6% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock valued at $13,300,000 after buying an additional 535,624 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amplitude by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 651,605 shares of the company’s stock valued at $5,845,000 after buying an additional 20,657 shares during the period. Finally, Cerity Partners LLC grew its holdings in Amplitude by 524.9% in the 3rd quarter. Cerity Partners LLC now owns 460,624 shares of the company’s stock worth $4,132,000 after acquiring an additional 386,915 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMPL. Piper Sandler lifted their price objective on shares of Amplitude from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. KeyCorp raised Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research note on Friday, December 13th. Robert W. Baird increased their price objective on Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Scotiabank raised their price objective on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.57.

Amplitude Trading Down 4.0 %

AMPL opened at $10.69 on Friday. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.42. The business’s 50-day moving average price is $10.37 and its 200-day moving average price is $9.18. The company has a market cap of $1.01 billion, a P/E ratio of -15.96 and a beta of 1.38.

Amplitude Company Profile

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.