Amplitude (NASDAQ:AMPL) Stock Price Down 10.9% – Here’s What Happened

Amplitude, Inc. (NASDAQ:AMPL)’s share price was down 10.9% during mid-day trading on Tuesday . The stock traded as low as $8.16 and last traded at $8.07. Approximately 514,872 shares traded hands during trading, a decline of 58% from the average daily volume of 1,235,754 shares. The stock had previously closed at $9.06.

Wall Street Analyst Weigh In

Several research firms recently commented on AMPL. Robert W. Baird boosted their price target on Amplitude from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Morgan Stanley set a $16.00 target price on Amplitude and gave the company an “overweight” rating in a research report on Thursday, January 15th. UBS Group raised shares of Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, October 31st. 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 report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Amplitude in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.40.

Amplitude Trading Down 9.3%

The stock’s 50-day moving average price is $10.81 and its 200-day moving average price is $10.94. The company has a market capitalization of $1.10 billion, a P/E ratio of -10.27 and a beta of 1.49.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. Amplitude had a negative net margin of 31.36% and a negative return on equity of 36.27%. The firm had revenue of $88.56 million for the quarter, compared to analyst estimates of $86.29 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. Amplitude’s quarterly revenue was up 17.8% on a year-over-year basis. Sell-side analysts expect that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Amplitude

In related news, CFO Andrew Casey bought 30,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $9.99 per share, for a total transaction of $299,700.00. Following the completion of the purchase, the chief financial officer owned 1,160,608 shares of the company’s stock, valued at $11,594,473.92. This represents a 2.65% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Spenser Skates sold 400,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $10.99, for a total transaction of $4,396,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 462,843 shares of company stock worth $5,121,643 in the last 90 days. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings 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 valued at $2,308,000 after buying an additional 123,886 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Amplitude by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,399 shares of the company’s stock worth $473,000 after acquiring an additional 2,038 shares during the period. NewEdge Advisors LLC bought a new position in shares of Amplitude in the first quarter worth $580,000. Jones Financial Companies Lllp increased its holdings in shares of Amplitude by 93,569.0% during the first quarter. Jones Financial Companies Lllp now owns 93,669 shares of the company’s stock valued at $954,000 after purchasing an additional 93,569 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Amplitude by 60.0% during the first 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 in the last quarter. 73.20% of the stock is owned by institutional investors and hedge funds.

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.