CenterBook Partners LP Cuts Stock Position in Amplitude, Inc. (NASDAQ:AMPL)

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

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

Amplitude Stock Performance

Shares of Amplitude stock traded down $0.25 during trading hours on Friday, hitting $12.59. The company's stock had a trading volume of 1,132,725 shares, compared to its average volume of 822,916. Amplitude, Inc. has a twelve month low of $7.37 and a twelve month high of $14.88. The firm has a fifty day moving average of $12.30 and a 200-day moving average of $11.37. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -16.57 and a beta of 1.54.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. DA Davidson lowered their price objective on Amplitude from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Piper Sandler boosted their price objective on Amplitude from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Benchmark reissued a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. Robert W. Baird lowered their price objective on Amplitude from $17.00 to $14.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Finally, UBS Group lowered their price objective on Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amplitude currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.50.

Insider Activity at Amplitude

In related news, Director Erica Schultz sold 7,500 shares of the business's stock in a transaction 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 sale, the director owned 107,406 shares in the company, valued at approximately $1,349,019.36. The trade was a 6.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Catherine Wong sold 8,502 shares of the business's stock in a transaction 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 sale, the director owned 79,152 shares in the company, valued at $988,608.48. This represents a 9.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,911 shares of company stock worth $825,102. 23.83% of the stock is currently owned by company 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.