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

Amplitude, Inc. (NASDAQ:AMPL) shares traded down 6.4% on Tuesday . The company traded as low as $10.76 and last traded at $10.77. 141,932 shares traded hands during trading, a decline of 47% from the average session volume of 267,473 shares. The stock had previously closed at $11.51.

Analysts Set New Price Targets

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

Amplitude Price Performance

The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -15.93 and a beta of 1.34. The firm’s 50-day moving average is $10.64 and its 200 day moving average is $9.32.

Insider Buying and Selling

In other Amplitude news, Director Eric Vishria sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.18, for a total value of $254,500.00. Following the transaction, the director now directly owns 286,208 shares of the company’s stock, valued at $2,913,597.44. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC bought a new stake in shares of Amplitude in the second quarter worth $41,000. Principal Financial Group Inc. bought a new position in shares of Amplitude during the second quarter worth about $92,000. Intech Investment Management LLC acquired a new position in Amplitude in the third quarter worth about $128,000. XTX Topco Ltd bought a new stake in Amplitude in the second quarter valued at about $133,000. Finally, MQS Management LLC raised its stake in Amplitude by 69.4% during the second quarter. MQS Management LLC now owns 18,617 shares of the company’s stock valued at $166,000 after buying an additional 7,625 shares in the last quarter. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

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.