CenterBook Partners LP Reduces Stock Holdings in Amplitude, Inc. (NASDAQ:AMPL)

CenterBook Partners LP trimmed its position in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 17.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 608,270 shares of the company's stock after selling 130,234 shares during the period. CenterBook Partners LP owned about 0.62% of Amplitude worth $6,198,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMPL. Charles Schwab Investment Management Inc. increased its stake in shares of Amplitude by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 683,405 shares of the company's stock worth $7,210,000 after buying an additional 31,800 shares during the period. PNC Financial Services Group Inc. increased its stake in Amplitude by 17.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 29,572 shares of the company's stock valued at $312,000 after purchasing an additional 4,451 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Amplitude in the fourth quarter valued at approximately $252,000. Swiss National Bank increased its stake in Amplitude by 2.3% in the fourth quarter. Swiss National Bank now owns 151,200 shares of the company's stock valued at $1,595,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Amplitude by 96.4% in the fourth quarter. Intech Investment Management LLC now owns 28,015 shares of the company's stock valued at $296,000 after purchasing an additional 13,754 shares during the last quarter. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Erica Schultz sold 26,394 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total transaction of $329,661.06. Following the completion of the sale, the director directly owned 92,500 shares of the company's stock, valued at $1,155,325. This trade represents a 22.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Vishria sold 25,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $10.15, for a total value of $253,750.00. Following the sale, the director directly owned 261,859 shares of the company's stock, valued at approximately $2,657,868.85. This represents a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,411 shares of company stock valued at $730,902 over the last three months. 23.83% of the stock is currently owned by company insiders.

Amplitude Price Performance

Shares of AMPL stock traded up $0.34 during trading hours on Thursday, hitting $12.84. The stock had a trading volume of 1,355,754 shares, compared to its average volume of 827,566. The firm has a market capitalization of $1.27 billion, a PE ratio of -16.89 and a beta of 1.54. Amplitude, Inc. has a twelve month low of $7.37 and a twelve month high of $14.88. The stock's 50 day moving average is $12.25 and its 200 day moving average is $11.35.

Amplitude (NASDAQ:AMPL - Get Free Report) last issued its quarterly 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 return on equity of 32.50% and a negative net margin of 31.01%. The company had revenue of $79.95 million for the quarter, compared to analyst estimates of $79.81 million. During the same period in the prior year, the business earned $0.01 earnings per share. Amplitude's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on AMPL shares. UBS Group dropped their price target on shares of Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Benchmark reiterated a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. Morgan Stanley increased their price target 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. DA Davidson dropped their price target on shares of Amplitude from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler increased their price target on shares of Amplitude from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $13.50.

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.