Liberty Mutual Group Asset Management Inc. Takes Position in 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 stake in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 92,908 shares of the company's stock, valued at approximately $947,000. Amplitude comprises approximately 0.3% of Liberty Mutual Group Asset Management Inc.'s portfolio, making the stock its 9th biggest holding. Liberty Mutual Group Asset Management Inc. owned about 0.09% of Amplitude at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Amplitude by 5.1% in the fourth 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. increased its position in shares of Amplitude by 9.4% in the fourth 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 increased its position in shares of Amplitude by 24.3% in the fourth 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. purchased a new stake in shares of Amplitude in the first quarter valued at approximately $20,292,000. Finally, Geode Capital Management LLC increased its position in shares of Amplitude by 2.7% in the fourth 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 currently owned by institutional investors.

Amplitude Stock Performance

Shares of NASDAQ AMPL traded up $0.31 during mid-day trading on Tuesday, reaching $12.27. 897,554 shares of the company's stock were exchanged, compared to its average volume of 1,128,078. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -16.15 and a beta of 1.54. Amplitude, Inc. has a 52-week low of $7.55 and a 52-week high of $14.88. The company's 50-day moving average is $12.44 and its 200-day moving average is $11.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.16). The firm had revenue of $79.95 million for the quarter, compared to analyst estimates of $79.81 million. Amplitude had a negative return on equity of 32.50% and a negative net margin of 31.01%. Amplitude's revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. As a group, equities analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMPL. 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. Scotiabank dropped their price target on Amplitude from $12.00 to $10.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. DA Davidson dropped their price target on Amplitude from $16.00 to $12.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wall Street Zen cut Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Piper Sandler boosted their price target on Amplitude from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.50.

Insider Transactions at Amplitude

In other Amplitude news, Director Erica Schultz sold 7,500 shares of Amplitude stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $12.56, for a total value of $94,200.00. Following the transaction, the director directly owned 107,406 shares in the company, valued at approximately $1,349,019.36. This trade represents a 6.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Catherine Wong sold 8,502 shares of Amplitude stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total value of $106,189.98. Following the completion of the transaction, the director owned 79,152 shares in the company, valued at $988,608.48. This trade represents a 9.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,911 shares of company stock valued at $825,102. Corporate insiders own 4.80% of the company's stock.

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.