Amplitude, Inc. (NASDAQ:AMPL) Sees Large Increase in Short Interest

Amplitude, Inc. (NASDAQ:AMPL) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 6,749,302 shares, a growth of 24.9% from the January 15th total of 5,402,838 shares. Based on an average daily trading volume, of 1,346,142 shares, the short-interest ratio is presently 5.0 days. Currently, 5.3% of the company’s shares are short sold. Currently, 5.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,346,142 shares, the short-interest ratio is presently 5.0 days.

Insider Buying and Selling at Amplitude

In other Amplitude news, CEO Spenser Skates sold 42,743 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $12.01, for a total transaction of $513,343.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Erica Schultz sold 10,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $10.88, for a total transaction of $108,800.00. Following the completion of the sale, the director directly owned 114,906 shares in the company, valued at approximately $1,250,177.28. This represents a 8.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,843 shares of company stock worth $623,343 in the last 90 days. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Amplitude

A number of hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its position in 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. TimesSquare Capital Management LLC bought a new position in shares of Amplitude during the third quarter valued at approximately $21,922,000. Wellington Management Group LLP increased its holdings in Amplitude by 783.5% during the third quarter. Wellington Management Group LLP now owns 2,026,598 shares of the company’s stock valued at $21,725,000 after buying an additional 1,797,228 shares during the period. Vanguard Group Inc. increased its holdings in Amplitude by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 10,825,568 shares of the company’s stock valued at $125,360,000 after buying an additional 934,350 shares during the period. Finally, Baillie Gifford & Co. raised its stake in Amplitude by 35.5% in the third 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. 73.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on AMPL shares. Piper Sandler decreased their price objective on shares of Amplitude from $16.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amplitude in a report on Monday, December 29th. Robert W. Baird boosted their price objective on Amplitude from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, December 19th. BTIG Research began coverage on Amplitude in a research report on Tuesday, December 16th. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Morgan Stanley set a $16.00 target price on Amplitude and gave the stock an “overweight” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.40.

Amplitude Stock Up 2.1%

Shares of NASDAQ AMPL opened at $6.34 on Monday. The business has a fifty day simple moving average of $10.21 and a two-hundred day simple moving average of $10.58. The firm has a market cap of $847.59 million, a PE ratio of -7.92 and a beta of 1.49. Amplitude has a twelve month low of $5.99 and a twelve month high of $14.88.

Amplitude Company Profile

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.