Ardsley Advisory Partners LP Takes 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 position in Amplitude, Inc. (NASDAQ:AMPL - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Liberty Mutual Group Asset Management Inc. bought a new position in Amplitude in the 1st quarter worth approximately $947,000. Principal Financial Group Inc. bought a new position in Amplitude in the 1st quarter worth approximately $1,586,000. Thrive Capital Management LLC bought a new position in Amplitude in the 4th quarter worth approximately $904,000. Wealth Enhancement Advisory Services LLC bought a new position in Amplitude in the 1st quarter worth approximately $107,000. Finally, Quantbot Technologies LP bought a new position in Amplitude in the 1st quarter worth approximately $671,000. 73.20% of the stock is owned by institutional investors.

Amplitude Stock Up 5.0%

NASDAQ:AMPL traded up $0.54 during trading hours on Friday, reaching $11.43. The company had a trading volume of 1,782,020 shares, compared to its average volume of 1,813,851. The stock has a 50-day moving average of $12.02 and a two-hundred day moving average of $11.45. Amplitude, Inc. has a one year low of $7.55 and a one year high of $14.88. The firm has a market capitalization of $1.17 billion, a PE ratio of -15.04 and a beta of 1.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $81.29 million. Amplitude's revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, sell-side analysts expect that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMPL. Needham & Company LLC boosted their price objective on Amplitude from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Piper Sandler boosted their price objective on Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Benchmark restated a "buy" rating on shares of Amplitude in a research report on Friday, July 11th. Wall Street Zen cut Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Bank of America boosted their price objective on Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, June 16th. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.80.

Insiders Place Their Bets

In other Amplitude news, Director Catherine Wong sold 8,502 shares of the business'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 transaction, the director owned 79,152 shares of the company's stock, valued at approximately $988,608.48. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Erica Schultz sold 26,394 shares of the business'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 $329,661.06. Following the completion of the transaction, the director directly owned 92,500 shares in the company, valued at approximately $1,155,325. This represents a 22.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,896 shares of company stock worth $616,001. Insiders own 23.83% of the company's stock.

Amplitude 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.