Utah Retirement Systems Sells 28,600 Shares of Amplitude, Inc. (NASDAQ:AMPL)
Utah Retirement Systems reduced its stake in Amplitude, Inc. (NASDAQ:AMPL) by 20.2%, selling 28,600 shares in Q4, leaving it with 112,834 shares valued at $1.19 million. Other institutional investors also adjusted their holdings. Amplitude's stock has seen varied analyst ratings, with a consensus target price of $13.90. The company reported a loss of $0.26 EPS, missing estimates, but had revenue of $78.13 million. Amplitude's market cap is $932.36 million, with a PE ratio of -12.26.
Utah Retirement Systems decreased its holdings in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 112,834 shares of the company's stock after selling 28,600 shares during the quarter. Utah Retirement Systems owned 0.12% of Amplitude worth $1,190,000 at the end of the most recent reporting period.
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Several other hedge funds and other institutional investors have also recently modified their holdings of AMPL. Headlands Technologies LLC purchased a new stake in Amplitude in the fourth quarter worth $38,000. Aquatic Capital Management LLC grew its holdings in shares of Amplitude by 176.5% in 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 during the last quarter. Canada Pension Plan Investment Board increased its stake in Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company's stock worth $75,000 after buying an additional 5,100 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Amplitude by 22.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock valued at $86,000 after buying an additional 1,492 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in Amplitude in the 4th quarter valued at about $121,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Amplitude
In related news, Director Eric Vishria sold 35,000 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the transaction, the director now owns 286,859 shares in the company, valued at $3,671,795.20. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
AMPL has been the subject of several research analyst reports. Citigroup lifted their price target on shares of Amplitude from $11.00 to $15.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. Piper Sandler decreased their target price on Amplitude from $17.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley dropped their price target on Amplitude from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. UBS Group lifted their price objective on Amplitude from $10.00 to $13.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reissued a "buy" rating and set a $16.00 target price on shares of Amplitude in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amplitude has an average rating of "Moderate Buy" and a consensus target price of $13.90.
Get Our Latest Analysis on AMPL
Amplitude Stock Up 0.6 %
NASDAQ AMPL opened at $9.44 on Friday. Amplitude, Inc. has a 52 week low of $7.37 and a 52 week high of $14.88. The company has a 50 day moving average price of $10.34 and a 200 day moving average price of $10.70. The firm has a market cap of $932.36 million, a PE ratio of -12.26 and a beta of 1.40.
Amplitude (NASDAQ:AMPL - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The business had revenue of $78.13 million for the quarter, compared to analysts' expectations of $76.68 million. On average, equities research analysts anticipate that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.
About Amplitude
(Free Report)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.
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