Amplitude (NASDAQ:AMPL) Shares Gap Down After Insider Selling

Amplitude, Inc. (NASDAQ:AMPL)’s stock price gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $11.97, but opened at $11.41. Amplitude shares last traded at $11.34, with a volume of 300,301 shares trading hands.

Specifically, Director Eric Vishria sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $10.15, for a total transaction of $253,750.00. Following the transaction, the director now owns 261,859 shares of the company’s stock, valued at approximately $2,657,868.85. The trade was a 8.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

AMPL has been the topic of several recent research reports. Citigroup boosted their price target on shares of Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Scotiabank lowered their price target on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Piper Sandler boosted their price target on shares of Amplitude from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. UBS Group lowered their price target on shares of Amplitude from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Finally, Bank of America boosted their price target on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.60.

Amplitude Stock Up 4.3%

The stock’s 50-day simple moving average is $10.05 and its 200 day simple moving average is $10.79. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -15.99 and a beta of 1.40.

Amplitude (NASDAQ:AMPL) last posted its earnings results on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). The company had revenue of $79.95 million during the quarter, compared to analyst estimates of $79.81 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. On average, sell-side analysts expect that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Institutional Trading of Amplitude

Several hedge funds have recently made changes to their positions in AMPL. Headlands Technologies LLC acquired a new stake in shares of Amplitude during the fourth quarter worth about $38,000. Aquatic Capital Management LLC lifted its position in shares of Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after purchasing an additional 2,647 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Amplitude by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock worth $59,000 after purchasing an additional 1,455 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Amplitude by 255.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after purchasing an additional 1,492 shares in the last quarter. Institutional investors and hedge funds 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.