Amplitude (NASDAQ:AMPL) Shares Down 5.8% After Insider Selling

Amplitude, Inc. (NASDAQ:AMPL)’s share price dropped 5.8% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $11.62 and last traded at $11.78. 47,905 shares were traded during trading, a decline of 87% from the average daily volume of 372,806 shares. The stock had previously closed at $12.51.

Specifically, Director Eric Vishria sold 3,563 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total transaction of $42,756.00. Following the completion of the sale, the director now directly owns 276,208 shares in the company, valued at approximately $3,314,496. The trade was a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

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

Amplitude Stock Performance

The firm has a 50 day simple moving average of $11.01 and a 200-day simple moving average of $9.60.

Institutional Trading of Amplitude

A number of hedge funds and other institutional investors have recently modified their holdings of AMPL. Barclays PLC boosted its stake in Amplitude by 371.7% during the third quarter. Barclays PLC now owns 128,537 shares of the company’s stock worth $1,153,000 after buying an additional 101,289 shares during the period. M&T Bank Corp boosted its position in shares of Amplitude by 86.8% during the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock worth $1,405,000 after purchasing an additional 72,806 shares during the period. JPMorgan Chase & Co. increased its holdings in Amplitude by 38.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock valued at $754,000 after purchasing an additional 23,526 shares during the last quarter. Walleye Capital LLC purchased a new stake in Amplitude in the third quarter valued at approximately $726,000. Finally, Geode Capital Management LLC raised its position in Amplitude by 7.1% in the third quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock valued at $17,078,000 after purchasing an additional 126,056 shares during the period. 73.20% of the stock is owned by institutional investors and hedge funds.

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.