Invesco Ltd. Purchases 29,046 Shares of Amplitude, Inc. $AMPL

Key Points

• Invesco Ltd. significantly increased its holdings in Amplitude, Inc. by 123.3% during the first quarter, possessing 52,603 shares valued at $536,000.
• Directors Erica Schultz and Catherine Wong sold shares of Amplitude, resulting in a 22.20% and 9.70% decrease, respectively, in their ownership.
• Amplitude's stock had a market cap of $1.17 billion and reported a 13.6% increase in quarterly revenue compared to the previous year.

Invesco Ltd. grew its holdings in Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 123.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,603 shares of the company's stock after purchasing an additional 29,046 shares during the quarter. Invesco Ltd. owned approximately 0.05% of Amplitude worth $536,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Amplitude by 45,828.6% in the 1st quarter. GAMMA Investing LLC now owns 6,430 shares of the company's stock valued at $631,000 after purchasing an additional 6,416 shares during the last quarter. Meros Investment Management LP acquired a new stake in shares of Amplitude in the 4th quarter valued at approximately $102,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Amplitude in the 1st quarter valued at approximately $107,000. Teacher Retirement System of Texas acquired a new stake in shares of Amplitude in the 1st quarter valued at approximately $119,000. Finally, Summit Trail Advisors LLC acquired a new stake in shares of Amplitude in the 1st quarter valued at approximately $124,000. Institutional investors own 73.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMPL. Wall Street Zen downgraded shares of Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Needham & Company LLC raised their target price on shares of Amplitude from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Benchmark restated a "buy" rating on shares of Amplitude in a report on Friday, July 11th. Piper Sandler raised their target price on shares of Amplitude from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Bank of America raised their target price on shares of Amplitude from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amplitude currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.80.

Insider Buying and Selling at Amplitude

In other news, Director Erica Schultz sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $11.46, for a total transaction of $85,950.00. Following the completion of the transaction, the director directly owned 107,406 shares of the company's stock, valued at $1,230,872.76. This trade represents a 6.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.83% of the stock is owned by corporate insiders.

Amplitude Price Performance

Shares of AMPL traded up $0.15 during mid-day trading on Thursday, hitting $11.34. 1,530,284 shares of the company's stock were exchanged, compared to its average volume of 1,734,704. The company has a market cap of $1.16 billion, a PE ratio of -14.92 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 has a 50-day simple moving average of $11.93 and a 200 day simple moving average of $11.40.

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