Battery Management CORP. Sells 3,000,000 Shares of Amplitude, Inc. $AMPL

Key Points

• Battery Management CORP. reduced its holdings in Amplitude, Inc. by 40.3%, now owning 4,451,304 shares valued at approximately $45.4 million.
• Research analysts have mixed ratings for Amplitude, with an average rating of "Moderate Buy" and a price target of $13.80, while UBS and Morgan Stanley have revised their target prices recently.
• A total of 73.20% of Amplitude's stock is owned by institutional investors, indicating strong institutional interest despite some insider selling reported in the past quarter.

Battery Management CORP. reduced its position in Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 40.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,451,304 shares of the company's stock after selling 3,000,000 shares during the period. Amplitude comprises approximately 6.6% of Battery Management CORP.'s holdings, making the stock its 4th biggest holding. Battery Management CORP. owned 4.51% of Amplitude worth $45,359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMPL. MetLife Investment Management LLC grew its stake in shares of Amplitude by 11.3% during the 4th quarter. MetLife Investment Management LLC now owns 47,503 shares of the company's stock valued at $501,000 after buying an additional 4,839 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Amplitude by 24.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,045 shares of the company's stock valued at $328,000 after buying an additional 6,046 shares during the period. Aquatic Capital Management LLC grew its stake in shares of Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock valued at $44,000 after buying an additional 2,647 shares during the period. Northern Trust Corp lifted its holdings in shares of Amplitude by 13.0% during the 4th quarter. Northern Trust Corp now owns 769,189 shares of the company's stock valued at $8,115,000 after acquiring an additional 88,227 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Amplitude during the 4th quarter valued at $129,000. 73.20% of the stock is owned by hedge funds and other institutional investors.

Amplitude Stock Performance

Shares of Amplitude stock traded up $0.54 during trading 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 company has a market cap of $1.17 billion, a price-to-earnings ratio of -15.04 and a beta of 1.54. The firm's fifty day moving average is $12.02 and its 200-day moving average is $11.45. Amplitude, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $14.88.

Amplitude (NASDAQ:AMPL - Get Free Report) last announced its quarterly earnings data 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 net margin of 30.43% and a negative return on equity of 33.08%. The business had revenue of $83.27 million during the quarter, compared to the consensus estimate of $81.29 million. The company's quarterly revenue was up 13.6% on a year-over-year basis. On average, research analysts anticipate that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Amplitude news, Director Erica Schultz sold 26,394 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total value of $329,661.06. Following the completion of the transaction, the director owned 92,500 shares in the company, valued at approximately $1,155,325. This represents a 22.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Catherine Wong sold 8,502 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total transaction of $106,189.98. Following the completion of the transaction, the director owned 79,152 shares of the company's stock, 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 sold 49,896 shares of company stock valued at $616,001. 23.83% of the stock is owned by 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.