Connor Clark & Lunn Investment Management Ltd. Acquires 130,943 Shares of 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 position in Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 549.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 about 0.16% of Amplitude worth $1,577,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. acquired a new position in Amplitude during the 1st quarter worth about $20,292,000. T. Rowe Price Investment Management Inc. lifted its position in Amplitude by 9.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock worth $94,911,000 after buying an additional 770,227 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Amplitude during the 4th quarter worth about $4,320,000. JPMorgan Chase & Co. lifted its position in Amplitude by 265.5% during the 4th 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 in the last quarter. Finally, Marshall Wace LLP acquired a new position in Amplitude during the 4th quarter worth about $2,185,000. Institutional investors and hedge funds own 73.20% of the company's stock.

Insider Transactions at Amplitude

In other news, Director Erica Schultz sold 7,500 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $11.46, for a total value of $85,950.00. Following the completion of the sale, the director directly owned 107,406 shares of the company's stock, valued at $1,230,872.76. This represents a 6.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Catherine Wong sold 8,502 shares of the company's stock in a transaction dated 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 directly owned 79,152 shares of the company's stock, valued at approximately $988,608.48. This trade represents a 9.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,896 shares of company stock valued at $616,001. 23.83% of the stock is currently owned by company insiders.

Amplitude Trading Up 0.6%

Shares of AMPL stock traded up $0.07 on Thursday, reaching $10.93. The company had a trading volume of 1,665,337 shares, compared to its average volume of 1,738,045. The stock has a market cap of $1.12 billion, a PE ratio of -14.38 and a beta of 1.54. The company has a 50-day moving average of $12.17 and a 200-day moving average of $11.53. Amplitude, Inc. has a 12 month low of $7.55 and a 12 month high of $14.88.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMPL. Piper Sandler upped their price target on shares of Amplitude from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Bank of America upped their price target on shares of Amplitude from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Morgan Stanley boosted their price objective on Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Benchmark reissued a "buy" rating on shares of Amplitude in a report on Friday, July 11th. Finally, Scotiabank dropped their price objective on Amplitude from $12.00 to $10.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Amplitude currently has an average rating of "Moderate Buy" and a consensus price target of $13.80.

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.