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

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

Analysts Set New Price Targets

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

Amplitude Trading Down 8.4 %

The firm has a market cap of $996.99 million, a PE ratio of -15.73 and a beta of 1.34. The firm has a fifty day simple moving average of $10.59 and a two-hundred day simple moving average of $9.30.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Eric Vishria sold 6,437 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.02, for a total transaction of $77,372.74. Following the transaction, the director now owns 279,771 shares in the company, valued at approximately $3,362,847.42. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Amplitude by 38.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock worth $754,000 after acquiring an additional 23,526 shares in the last quarter. Barclays PLC grew its stake in shares of Amplitude by 371.7% in the 3rd quarter. Barclays PLC now owns 128,537 shares of the company’s stock worth $1,153,000 after buying an additional 101,289 shares during the last quarter. Geode Capital Management LLC increased its position 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. M&T Bank Corp raised its stake in Amplitude by 86.8% during the third quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock valued at $1,405,000 after buying an additional 72,806 shares during the last quarter. Finally, Circumference Group LLC bought a new stake in Amplitude in the third quarter worth $1,597,000. 73.20% of the stock is 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.