Baker Avenue Asset Management LP Purchases New Shares in Amplitude, Inc. $AMPL

Baker Avenue Asset Management LP acquired a new stake in shares of Amplitude, Inc. (NASDAQ:AMPL) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 89,640 shares of the company’s stock, valued at approximately $1,112,000.

Several other institutional investors also recently bought and sold shares of AMPL. Russell Investments Group Ltd. raised its stake in Amplitude by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock valued at $59,000 after purchasing an additional 1,455 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Amplitude in the second quarter valued at about $132,000. Aigen Investment Management LP acquired a new position in Amplitude in the 1st quarter valued at about $114,000. AlphaQuest LLC increased its stake in shares of Amplitude by 1,569.9% during the second quarter. AlphaQuest LLC now owns 11,472 shares of the company’s stock worth $142,000 after acquiring an additional 10,785 shares during the period. Finally, Caxton Associates LLP purchased a new position in Amplitude during the first quarter worth about $131,000. 73.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMPL has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amplitude in a research report on Wednesday, October 8th. Robert W. Baird lowered their price objective on shares of Amplitude from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Piper Sandler restated an “overweight” rating and set a $16.00 target price on shares of Amplitude in a research report on Thursday, November 6th. DA Davidson reaffirmed a “buy” rating and issued a $16.00 price target on shares of Amplitude in a report on Monday, September 29th. Finally, UBS Group raised shares of Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.40.

Insider Buying and Selling

In other Amplitude news, CFO Andrew Casey purchased 30,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $9.99 per share, with a total value of $299,700.00. Following the completion of the purchase, the chief financial officer owned 1,160,608 shares of the company’s stock, valued at approximately $11,594,473.92. The trade was a 2.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Spenser Skates sold 400,000 shares of the firm’s stock in a transaction 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 430,000 shares of company stock worth $4,710,100. Company insiders own 4.80% of the company’s stock.

Amplitude Price Performance

NASDAQ:AMPL opened at $11.14 on Tuesday. The stock has a market cap of $1.49 billion, a P/E ratio of -13.92 and a beta of 1.51. The company has a fifty day moving average price of $10.19 and a 200 day moving average price of $11.36. Amplitude, Inc. has a one year low of $7.55 and a one year high of $14.88.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Amplitude had a negative return on equity of 36.27% and a negative net margin of 31.36%.The business had revenue of $88.56 million during the quarter, compared to the consensus estimate of $86.29 million. During the same period last year, the company earned $0.03 earnings per share. Amplitude’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities research analysts anticipate that Amplitude, Inc. will post -0.62 EPS for the current year.

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.