Amplitude, Inc. $AMPL Shares Acquired by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC increased its stake in Amplitude, Inc. by 54.4%, owning a total of 83,557 shares valued at approximately $851,000 as of its latest SEC filing.
• Several research firms have updated their price targets for Amplitude, with Needham & Company raising their target from $16.00 to $18.00, emphasizing a "buy" rating.
• Amplitude's stock price has seen a 5.7% increase recently and has shown a quarterly revenue growth of 13.6% compared to the same quarter last year.

Cresset Asset Management LLC raised its position in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 54.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,557 shares of the company's stock after buying an additional 29,444 shares during the quarter. Cresset Asset Management LLC owned about 0.08% of Amplitude worth $851,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Sei Investments Co. purchased a new position in shares of Amplitude in the 1st quarter worth about $269,000. Russell Investments Group Ltd. raised its position in Amplitude by 33.3% in the 1st quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock worth $59,000 after buying an additional 1,455 shares during the last quarter. Informed Momentum Co LLC purchased a new position in Amplitude in the 1st quarter worth about $1,920,000. Nuveen LLC purchased a new position in Amplitude in the 1st quarter worth about $2,526,000. Finally, Aigen Investment Management LP purchased a new position in Amplitude in the 1st quarter worth about $114,000. Hedge funds and other institutional investors own 73.20% of the company's stock.

Insider Activity at Amplitude

In other Amplitude news, Director Erica Schultz sold 26,394 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $329,661.06. Following the completion of the sale, the director directly owned 92,500 shares in the company, valued at $1,155,325. This represents a 22.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Catherine Wong sold 8,502 shares of the company'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 of the company's stock, valued at approximately $988,608.48. The trade was 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 have sold 49,896 shares of company stock valued at $616,001. Corporate insiders own 23.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMPL. Benchmark reissued a "buy" rating on shares of Amplitude in a research report on Friday, July 11th. Wall Street Zen lowered shares of Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Piper Sandler boosted their price objective on Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Morgan Stanley upped their price target on Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, Needham & Company LLC increased their target price on Amplitude from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $13.80.

Amplitude Trading Up 2.6%

Shares of AMPL stock traded up $0.30 during trading hours on Thursday, reaching $11.75. 504,281 shares of the company's stock were exchanged, compared to its average volume of 1,229,022. The stock's fifty day moving average price is $12.13 and its two-hundred day moving average price is $11.50. The stock has a market cap of $1.20 billion, a PE ratio of -15.42 and a beta of 1.54. Amplitude, Inc. has a 1 year low of $7.55 and a 1 year high of $14.88.

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

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.