Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Amplitude, Inc. $AMPL

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its ownership in Amplitude, Inc. by 549.1%, acquiring an additional 130,943 shares during the first quarter.
• Analyst ratings for Amplitude show a mix of opinions, with the price target from Piper Sandler raised to $16.00 while Wall Street Zen downgraded the stock from "buy" to "hold."
• Amplitude's revenue for the most recent quarter was reported at $83.27 million, representing a 13.6% increase from the same period last year, and the company met the consensus EPS estimate of $0.01.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 549.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,788 shares of the company's stock after purchasing an additional 130,943 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of Amplitude worth $1,577,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Aquatic Capital Management LLC grew its stake in Amplitude by 176.5% in 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 in the last quarter. GAMMA Investing LLC grew its position in shares of Amplitude by 45,828.6% in the first quarter. GAMMA Investing LLC now owns 6,430 shares of the company's stock valued at $631,000 after purchasing an additional 6,416 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Amplitude by 255.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company's stock valued at $75,000 after purchasing an additional 5,100 shares during the period. Summit Investment Advisors Inc. lifted its holdings 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 purchasing an additional 1,492 shares in the last quarter. Finally, Meros Investment Management LP bought a new position in Amplitude in the 4th quarter worth about $102,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMPL shares. Wall Street Zen downgraded shares of Amplitude from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Morgan Stanley upped their price target on shares of Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Robert W. Baird dropped their price target on Amplitude from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. UBS Group dropped their price target 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 raised their price objective on Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. One research 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.com, Amplitude currently has a consensus rating of "Moderate Buy" and an average price target of $13.80.

Insider Activity

In related news, Director Catherine Wong sold 8,502 shares of the firm's stock in a transaction dated 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Erica Schultz sold 7,500 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $11.46, for a total value of $85,950.00. Following the transaction, the director directly owned 107,406 shares of the company's stock, valued at $1,230,872.76. The trade was a 6.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,896 shares of company stock worth $616,001 over the last three months. 23.83% of the stock is owned by insiders.

Amplitude Trading Up 0.9%

Shares of NASDAQ:AMPL traded up $0.0990 during trading on Thursday, reaching $10.9590. 353,311 shares of the company traded hands, compared to its average volume of 1,210,102. Amplitude, Inc. has a 52-week low of $7.55 and a 52-week high of $14.88. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -14.34 and a beta of 1.54. The business's fifty day moving average is $12.19 and its 200-day moving average is $11.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $83.27 million during the quarter, compared to analysts' expectations of $81.29 million. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The company's revenue was up 13.6% compared to the same quarter last year. On average, sell-side analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

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.