Ardsley Advisory Partners LP Buys New Position in Amplitude, Inc. $AMPL

Key Points

• Ardsley Advisory Partners LP acquired 135,000 shares of Amplitude, Inc., valued at approximately $1.38 million, thereby increasing its stake to around 0.14% as of the latest SEC filing.
• Several other hedge funds, including MetLife and Aquatic Capital Management, have made significant changes to their positions in Amplitude, with overall institutional ownership at 73.20%.
• Analysts provide mixed outlooks for Amplitude, with price targets ranging from $13.00 to $18.00, and a consensus rating of "Moderate Buy".

Ardsley Advisory Partners LP purchased a new stake in Amplitude, Inc. (NASDAQ:AMPL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 135,000 shares of the company's stock, valued at approximately $1,376,000. Ardsley Advisory Partners LP owned 0.14% of Amplitude as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new stake in Amplitude in the 1st quarter valued at about $20,292,000. Meros Investment Management LP raised its holdings in Amplitude by 4,682.9% in the 1st quarter. Meros Investment Management LP now owns 462,314 shares of the company's stock valued at $4,711,000 after buying an additional 452,648 shares during the period. Point72 Asset Management L.P. purchased a new stake in Amplitude in the 4th quarter valued at about $4,320,000. Nuveen LLC purchased a new stake in Amplitude in the 1st quarter valued at about $2,526,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Amplitude in the 1st quarter valued at about $2,120,000. Institutional investors and hedge funds own 73.20% of the company's stock.

Insider Activity at Amplitude

In other Amplitude news, Director Catherine Wong sold 8,502 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $106,189.98. Following the sale, the director owned 79,152 shares of the company's stock, valued at approximately $988,608.48. This represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erica Schultz sold 7,500 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $11.46, for a total value of $85,950.00. Following the completion of the sale, the director directly owned 107,406 shares in the company, valued at $1,230,872.76. This trade represents a 6.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,896 shares of company stock valued at $616,001 in the last 90 days. Company insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

AMPL has been the topic of several research analyst reports. Piper Sandler boosted their price objective on shares of Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Bank of America lifted their target price on Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Needham & Company LLC lifted their target price on Amplitude from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Benchmark reaffirmed a "buy" rating on shares of Amplitude in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Amplitude currently has a consensus rating of "Moderate Buy" and an average price target of $13.80.

Amplitude Price Performance

Shares of Amplitude stock traded up $0.23 on Monday, reaching $11.66. 663,512 shares of the company were exchanged, compared to its average volume of 1,250,115. Amplitude, Inc. has a 1-year low of $7.55 and a 1-year high of $14.88. The company has a market cap of $1.19 billion, a P/E ratio of -15.34 and a beta of 1.54. The stock's 50 day moving average price is $12.02 and its 200-day moving average price is $11.43.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Amplitude had a negative return on equity of 33.08% and a negative net margin of 30.43%.The firm had revenue of $83.27 million during the quarter, compared to analysts' expectations of $81.29 million. The business's revenue was up 13.6% on a year-over-year basis. On average, research analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal 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.