Bank of New York Mellon Corp Has $2.37 Million Stock Position in Amplitude, Inc. (NASDAQ:AMPL)

Key Points

• Bank of New York Mellon Corp significantly reduced its stake in Amplitude, Inc. by 75.7% in the first quarter, leaving it with 232,562 shares valued at approximately $2.37 million.
• Amplitude's recent earnings report revealed a quarterly revenue of $79.95 million, which was higher than analyst estimates, but the company reported a loss of ($0.17) EPS, missing expectations by a substantial margin.
• Analysts' target prices on Amplitude stock vary, with Bank of America raising its target to $15.00 and DA Davidson reducing it to $12.00, indicating a range of market evaluations on the company's future performance.

Bank of New York Mellon Corp reduced its stake in Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 75.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 232,562 shares of the company's stock after selling 722,731 shares during the period. Bank of New York Mellon Corp owned approximately 0.18% of Amplitude worth $2,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its stake in Amplitude by 9.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock worth $94,911,000 after purchasing an additional 770,227 shares during the period. Sunriver Management LLC increased its stake in Amplitude by 24.3% during the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company's stock worth $39,803,000 after purchasing an additional 737,600 shares during the period. Vanguard Group Inc. increased its stake in shares of Amplitude by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company's stock worth $96,951,000 after buying an additional 447,277 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Amplitude during the fourth quarter worth approximately $4,320,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Amplitude by 265.5% during the fourth quarter. JPMorgan Chase & Co. now owns 307,225 shares of the company's stock worth $3,241,000 after buying an additional 223,175 shares during the period. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amplitude

In other Amplitude news, Director Erica Schultz sold 7,500 shares of Amplitude stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $12.56, for a total transaction of $94,200.00. Following the sale, the director directly owned 107,406 shares in the company, valued at $1,349,019.36. The trade was a 6.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Catherine Wong sold 8,502 shares of Amplitude stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $106,189.98. Following the sale, the director owned 79,152 shares in the company, valued at $988,608.48. This represents a 9.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,911 shares of company stock worth $825,102. 23.83% of the stock is currently owned by company insiders.

Amplitude Price Performance

NASDAQ:AMPL traded down $0.48 during mid-day trading on Friday, reaching $11.75. The company's stock had a trading volume of 422,459 shares, compared to its average volume of 1,124,756. The company's fifty day simple moving average is $12.45 and its two-hundred day simple moving average is $11.51. Amplitude, Inc. has a twelve month low of $7.37 and a twelve month high of $14.88. The stock has a market cap of $1.16 billion, a P/E ratio of -15.45 and a beta of 1.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $79.81 million. Amplitude had a negative return on equity of 32.50% and a negative net margin of 31.01%. The firm's quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. Sell-side analysts expect that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Robert W. Baird lowered their price target on Amplitude from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Wall Street Zen downgraded Amplitude from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price objective on shares of Amplitude in a research report on Thursday, July 10th. Bank of America increased their price objective on Amplitude from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, Piper Sandler increased their price objective on Amplitude from $14.00 to $15.00 and gave the stock 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.50.

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.