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

Amplitude, Inc. (NASDAQ:AMPL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $12.61, but opened at $12.13. Amplitude shares last traded at $11.82, with a volume of 112,322 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Friday, December 13th. Piper Sandler upgraded shares of Amplitude from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $11.00 to $15.00 in a research report on Monday, January 6th. Scotiabank increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Morgan Stanley raised Amplitude from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $10.00 to $11.00 in a research note on Monday, January 13th. Finally, Robert W. Baird boosted their price target on shares of Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Amplitude has a consensus rating of “Hold” and an average target price of $12.43.

Amplitude Trading Down 0.0 %

The company has a market capitalization of $1.17 billion, a PE ratio of -18.55 and a beta of 1.37. The firm has a 50 day simple moving average of $11.19 and a two-hundred day simple moving average of $9.75.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.18, for a total transaction of $254,500.00. Following the sale, the director now owns 286,208 shares of the company’s stock, valued at approximately $2,913,597.44. The trade was a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 35,000 shares of company stock worth $374,629 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in Amplitude during the third quarter worth approximately $128,000. Blue Trust Inc. increased its position in shares of Amplitude by 13.5% in the third quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock worth $174,000 after acquiring an additional 2,324 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Amplitude by 19.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,146 shares of the company’s stock valued at $199,000 after acquiring an additional 3,552 shares in the last quarter. New York State Common Retirement Fund boosted its position in Amplitude by 79.7% during the 4th quarter. New York State Common Retirement Fund now owns 23,680 shares of the company’s stock worth $250,000 after purchasing an additional 10,500 shares during the period. Finally, Quantbot Technologies LP increased its holdings in Amplitude by 21.5% in the 3rd quarter. Quantbot Technologies LP now owns 24,390 shares of the company’s stock valued at $219,000 after purchasing an additional 4,309 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.