Amplitude, Inc. $AMPL Holdings Boosted by Invesco Ltd.

Invesco Ltd. boosted its position in shares of Amplitude, Inc. (NASDAQ:AMPL) by 123.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,603 shares of the company’s stock after purchasing an additional 29,046 shares during the period. Invesco Ltd.’s holdings in Amplitude were worth $536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMPL. Baillie Gifford & Co. purchased a new position in shares of Amplitude during the 1st quarter valued at $20,292,000. Point72 Asset Management L.P. purchased a new position in shares of Amplitude during the 4th quarter valued at $4,320,000. Pathway Capital Management LP purchased a new position in shares of Amplitude during the 1st quarter valued at $1,717,000. Principal Financial Group Inc. purchased a new position in shares of Amplitude during the 1st quarter valued at $1,586,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Amplitude by 549.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 154,788 shares of the company’s stock valued at $1,577,000 after acquiring an additional 130,943 shares in the last quarter. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amplitude news, Director Catherine Wong sold 8,502 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total transaction of $106,189.98. Following the completion of the transaction, the director owned 79,152 shares of the company’s stock, valued at $988,608.48. The trade was a 9.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erica Schultz sold 26,394 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total transaction of $329,661.06. Following the transaction, the director owned 92,500 shares in the company, valued at approximately $1,155,325. The trade was a 22.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,896 shares of company stock valued at $616,001. Company insiders own 23.83% of the company’s stock.

Amplitude Price Performance

Amplitude stock opened at $11.43 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -15.04 and a beta of 1.54. Amplitude, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $14.88. The firm has a fifty day moving average price of $12.02 and a two-hundred day moving average price of $11.45.

Amplitude (NASDAQ:AMPL) last released its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $83.27 million during the quarter, compared to analyst estimates of $81.29 million. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts expect that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMPL shares. Benchmark restated a “buy” rating on shares of Amplitude in a report on Friday, July 11th. Wall Street Zen cut shares of Amplitude from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Piper Sandler boosted their price target on shares of Amplitude from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Morgan Stanley lifted their price objective on shares of Amplitude from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Finally, Bank of America lifted their price objective on shares of Amplitude from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Amplitude presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.80.

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.