Allianz Asset Management GmbH Boosts Stake in Amplitude, Inc. (NASDAQ:AMPL)

Key Points

• Allianz Asset Management GmbH significantly increased its holdings in Amplitude, Inc. by 266.0%, owning 38,800 shares worth approximately $395,000 after acquiring 28,200 additional shares during the first quarter.
• Analysts have varied opinions on Amplitude, with Piper Sandler raising the target price to $15.00, while others like DA Davidson lowered it to $12.00, reflecting differing confidence in the company's prospects.
• Amplitude reported $79.95 million in revenue for the last quarter, a 10.1% increase year-over-year, but missed earnings expectations with a loss of ($0.17) per share.

Allianz Asset Management GmbH raised its holdings in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 266.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,800 shares of the company's stock after acquiring an additional 28,200 shares during the quarter. Allianz Asset Management GmbH's holdings in Amplitude were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Occudo Quantitative Strategies LP increased its position in shares of Amplitude by 2.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company's stock worth $436,000 after purchasing an additional 832 shares during the last quarter. Summit Investment Advisors Inc. grew its position in Amplitude by 22.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock worth $86,000 after acquiring an additional 1,492 shares during the last quarter. Legal & General Group Plc grew its position in Amplitude by 2.6% during the 4th quarter. Legal & General Group Plc now owns 82,998 shares of the company's stock worth $876,000 after acquiring an additional 2,111 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Amplitude by 6.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,361 shares of the company's stock worth $468,000 after acquiring an additional 2,512 shares during the last quarter. Finally, Aquatic Capital Management LLC grew its position in Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock worth $44,000 after acquiring an additional 2,647 shares during the last quarter. Institutional investors own 73.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America boosted their target price on Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Robert W. Baird decreased their target price on shares of Amplitude from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Morgan Stanley boosted their target price on shares of Amplitude from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. UBS Group reduced their price objective on Amplitude from $13.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Piper Sandler lifted their price objective on shares of Amplitude from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.50.

Insider Transactions at Amplitude

In other Amplitude news, Director Eric Vishria sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $10.15, for a total value of $253,750.00. Following the completion of the transaction, the director owned 261,859 shares of the company's stock, valued at $2,657,868.85. This trade represents a 8.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $94,200.00. Following the completion of the transaction, the director owned 107,406 shares of the company's stock, valued at $1,349,019.36. The trade was a 6.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,911 shares of company stock valued at $825,102 over the last 90 days. 23.83% of the stock is currently owned by corporate insiders.

Amplitude Trading Up 3.5%

Shares of AMPL traded up $0.41 during mid-day trading on Monday, hitting $11.96. The company's stock had a trading volume of 1,071,843 shares, compared to its average volume of 1,130,246. Amplitude, Inc. has a 52-week low of $7.37 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 $11.53. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -15.74 and a beta of 1.54.

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

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.