Amplitude (NASDAQ:AMPL) Shares Down 10.9% – Here’s Why

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

Analyst Ratings Changes

A number of research analysts have weighed in on AMPL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Amplitude in a research note on Monday, December 29th. Morgan Stanley set a $16.00 target price on Amplitude and gave the stock an “overweight” rating in a research note on Thursday, January 15th. BTIG Research started coverage on Amplitude in a research note on Tuesday, December 16th. They issued a “buy” rating and a $14.00 price target on the stock. Robert W. Baird raised their price target on Amplitude from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, December 19th. Finally, UBS Group upgraded shares of Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Amplitude currently has a consensus rating of “Moderate Buy” and an average target price of $14.40.

Amplitude Trading Down 7.6%

The stock has a market cap of $977.27 million, a P/E ratio of -9.14 and a beta of 1.48. The firm has a 50-day simple moving average of $10.67 and a two-hundred day simple moving average of $10.86.

Amplitude (NASDAQ:AMPL) last announced its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $88.56 million during the quarter, compared to analysts’ expectations of $86.29 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. Amplitude’s quarterly revenue was up 17.8% on a year-over-year basis. Sell-side analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Spenser Skates sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $10.99, for a total value of $4,396,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erica Schultz sold 10,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $10.88, for a total value of $108,800.00. Following the sale, the director directly owned 114,906 shares in the company, valued at $1,250,177.28. This represents a 8.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 462,843 shares of company stock worth $5,121,643 in the last quarter. Corporate insiders own 23.83% of the company’s stock.

Institutional Trading of Amplitude

A number of institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC lifted its position in shares of Amplitude by 932.3% during the 2nd quarter. Squarepoint Ops LLC now owns 529,050 shares of the company’s stock worth $6,560,000 after buying an additional 477,801 shares during the last quarter. Wilson Asset Management International PTY Ltd. acquired a new position in Amplitude during the second quarter worth about $1,536,000. Gagnon Securities LLC bought a new position in shares of Amplitude in the third quarter worth about $5,475,000. Hsbc Holdings PLC boosted its stake in shares of Amplitude by 1,256.3% in the 2nd quarter. Hsbc Holdings PLC now owns 163,615 shares of the company’s stock valued at $2,032,000 after purchasing an additional 151,552 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of Amplitude by 35.5% in the 3rd quarter. Baillie Gifford & Co. now owns 2,681,896 shares of the company’s stock valued at $28,750,000 after purchasing an additional 703,328 shares in the last quarter. 73.20% of the stock is currently owned by institutional investors.

About Amplitude

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.