Jacobs Levy Equity Management Inc. Sells 3,967 Shares of Amplitude, Inc. $AMPL

Jacobs Levy Equity Management Inc. reduced its position in Amplitude, Inc. (NASDAQ:AMPL) by 3.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 106,560 shares of the company’s stock after selling 3,967 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Amplitude were worth $1,086,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AMPL. Russell Investments Group Ltd. increased its holdings in Amplitude by 33.3% in the 1st quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock valued at $59,000 after buying an additional 1,455 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Amplitude during the first quarter worth $107,000. Aigen Investment Management LP acquired a new position in shares of Amplitude during the first quarter worth $114,000. Teacher Retirement System of Texas acquired a new position in shares of Amplitude during the first quarter worth $119,000. Finally, Summit Trail Advisors LLC acquired a new position in shares of Amplitude during the first quarter worth $124,000. 73.20% of the stock is owned by institutional investors.

Amplitude Stock Performance

Shares of NASDAQ AMPL opened at $11.34 on Friday. The company has a market capitalization of $1.16 billion, a P/E ratio of -14.92 and a beta of 1.54. Amplitude, Inc. has a 52-week low of $7.55 and a 52-week high of $14.88. The company’s 50 day moving average price is $11.93 and its 200-day moving average price is $11.40.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $83.27 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Amplitude from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Piper Sandler lifted their target price on shares of Amplitude from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Benchmark reiterated a “buy” rating on shares of Amplitude in a research report on Friday, July 11th. Needham & Company LLC lifted their target price on shares of Amplitude from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Bank of America lifted their target price on shares of Amplitude from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.80.

Insider Buying and Selling

In other Amplitude news, Director Erica Schultz sold 7,500 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $11.46, for a total transaction of $85,950.00. Following the sale, the director owned 107,406 shares of the company’s stock, valued at approximately $1,230,872.76. This represents a 6.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 23.83% of the company’s stock.

Amplitude 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.