510,731 Shares in Amplitude, Inc. $AMPL Acquired by Gagnon Securities LLC

Gagnon Securities LLC purchased a new stake in shares of Amplitude, Inc. (NASDAQ:AMPL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 510,731 shares of the company’s stock, valued at approximately $5,475,000. Amplitude makes up about 1.1% of Gagnon Securities LLC’s investment portfolio, making the stock its 28th biggest position. Gagnon Securities LLC owned 0.50% of Amplitude as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Alliancebernstein L.P. raised its position in shares of Amplitude by 2,126.0% during the 2nd quarter. Alliancebernstein L.P. now owns 4,160,481 shares of the company’s stock valued at $51,590,000 after purchasing an additional 3,973,575 shares during the period. Baillie Gifford & Co. increased its stake in Amplitude by 35.5% in the 3rd quarter. Baillie Gifford & Co. now owns 2,681,896 shares of the company’s stock worth $28,750,000 after buying an additional 703,328 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Amplitude by 932.3% during the second quarter. Squarepoint Ops LLC now owns 529,050 shares of the company’s stock valued at $6,560,000 after acquiring an additional 477,801 shares during the period. Bank of America Corp DE lifted its position in shares of Amplitude by 149.4% in the second quarter. Bank of America Corp DE now owns 699,824 shares of the company’s stock valued at $8,678,000 after acquiring an additional 419,248 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Amplitude by 1,454.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 418,090 shares of the company’s stock valued at $5,184,000 after acquiring an additional 391,193 shares in the last quarter. 73.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on AMPL shares. BTIG Research assumed coverage on Amplitude in a research report on Tuesday, December 16th. They set a “buy” rating and a $14.00 target price for the company. Piper Sandler reiterated an “overweight” rating and set a $16.00 price objective on shares of Amplitude in a research report on Thursday, November 6th. Robert W. Baird boosted their target price on shares of Amplitude from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amplitude in a research note on Monday, December 29th. Finally, Morgan Stanley set a $16.00 price target on shares of Amplitude and gave the company an “overweight” rating in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.80.

Amplitude Stock Performance

Shares of AMPL opened at $9.37 on Friday. The stock has a market capitalization of $1.25 billion, a PE ratio of -11.71 and a beta of 1.49. The company’s fifty day moving average is $10.84 and its 200 day moving average is $11.01. Amplitude, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $14.88.

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

Insiders Place Their Bets

In related news, Director Erica Schultz sold 10,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $10.88, for a total transaction of $108,800.00. Following the sale, the director owned 114,906 shares in the company, valued at approximately $1,250,177.28. This represents a 8.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Casey purchased 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $9.99 per share, with a total value of $299,700.00. Following the completion of the transaction, the chief financial officer owned 1,160,608 shares of the company’s stock, valued at $11,594,473.92. The trade was a 2.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 462,843 shares of company stock valued at $5,121,643 over the last ninety days. 23.83% of the stock is owned by insiders.

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.