Liberty Mutual Group Asset Management Inc. Buys Shares of 92,908 Amplitude, Inc. (NASDAQ:AMPL)

Key Points

• Liberty Mutual Group Asset Management Inc. has acquired 92,908 shares of Amplitude, Inc. valued at approximately $947,000, making it the 9th largest holding in their portfolio.
• Insider selling has been prominent, with directors Erica Schultz and Eric Vishria selling a combined 32,500 shares recently, indicating a combined decrease of 6.53% and 8.72% in their ownership stakes, respectively.
• Several analysts adjusted their price targets for Amplitude, with the average target now at $13.50, reflecting varying ratings from "hold" to "buy" across different brokerages.

Liberty Mutual Group Asset Management Inc. bought a new position in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 92,908 shares of the company's stock, valued at approximately $947,000. Amplitude accounts for about 0.3% of Liberty Mutual Group Asset Management Inc.'s holdings, making the stock its 9th largest position. Liberty Mutual Group Asset Management Inc. owned about 0.09% of Amplitude at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Amplitude by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company's stock valued at $96,951,000 after purchasing an additional 447,277 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Amplitude by 9.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock valued at $94,911,000 after buying an additional 770,227 shares in the last quarter. Sunriver Management LLC boosted its holdings in shares of Amplitude by 24.3% in the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company's stock valued at $39,803,000 after buying an additional 737,600 shares in the last quarter. Baillie Gifford & Co. acquired a new position in shares of Amplitude in the 1st quarter valued at $20,292,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Amplitude by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company's stock valued at $20,636,000 after buying an additional 52,033 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AMPL shares. Piper Sandler upped their target price on shares of Amplitude from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. DA Davidson decreased their price target on shares of Amplitude from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley increased their price target on shares of Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and set a $16.00 price target on shares of Amplitude in a research note on Thursday, July 10th. Finally, Benchmark reiterated a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $13.50.

Amplitude Stock Performance

NASDAQ:AMPL traded down $0.68 during mid-day trading on Friday, hitting $11.55. 1,251,259 shares of the company's stock traded hands, compared to its average volume of 1,025,725. The firm's 50 day simple moving average is $12.44 and its 200 day simple moving average is $11.52. Amplitude, Inc. has a 1 year low of $7.37 and a 1 year high of $14.88. The company has a market cap of $1.14 billion, a PE ratio of -15.20 and a beta of 1.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.16). Amplitude had a negative net margin of 31.01% and a negative return on equity of 32.50%. The business had revenue of $79.95 million for the quarter, compared to analysts' expectations of $79.81 million. During the same quarter last year, the business posted $0.01 earnings per share. The business's revenue was up 10.1% compared to the same quarter last year. On average, research analysts expect that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

In other news, Director Erica Schultz sold 7,500 shares of Amplitude stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $12.56, for a total transaction of $94,200.00. Following the completion of the sale, the director directly owned 107,406 shares in the company, valued at $1,349,019.36. The trade was a 6.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Catherine Wong sold 8,502 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total transaction of $106,189.98. Following the completion of the sale, the director directly owned 79,152 shares in the company, valued at $988,608.48. This represents a 9.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,911 shares of company stock worth $825,102 over the last ninety days. 23.83% of the stock is currently owned by corporate insiders.

About Amplitude

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.