Cresset Asset Management LLC Purchases 29,444 Shares of Amplitude, Inc. $AMPL

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 lifted its holdings in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 54.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other institutional investors also recently modified their holdings of AMPL. Wells Fargo & Company MN lifted its stake in shares of Amplitude by 48.1% during the 4th quarter. Wells Fargo & Company MN now owns 39,988 shares of the company's stock valued at $422,000 after buying an additional 12,983 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Amplitude by 2.6% during the 4th quarter. Legal & General Group Plc now owns 82,998 shares of the company's stock valued at $876,000 after buying an additional 2,111 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Amplitude by 3.9% during the 4th quarter. Renaissance Technologies LLC now owns 219,500 shares of the company's stock valued at $2,316,000 after buying an additional 8,200 shares in the last quarter. Barclays PLC lifted its stake in shares of Amplitude by 9.7% during the 4th quarter. Barclays PLC now owns 141,020 shares of the company's stock valued at $1,487,000 after buying an additional 12,483 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Amplitude during the 4th quarter valued at approximately $2,185,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Amplitude Trading Up 2.9%

Shares of NASDAQ:AMPL traded up $0.33 during trading on Wednesday, reaching $11.37. The company had a trading volume of 1,108,084 shares, compared to its average volume of 1,230,197. The company has a fifty day moving average of $12.14 and a two-hundred day moving average of $11.50. The stock has a market capitalization of $1.16 billion, a P/E ratio of -14.95 and a beta of 1.54. 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The firm had revenue of $83.27 million for the quarter, compared to analyst estimates of $81.29 million. The company's revenue was up 13.6% compared to the same quarter last year. As a group, equities research analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Amplitude

In related news, Director Catherine Wong sold 8,502 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total transaction of $106,189.98. Following the transaction, the director owned 79,152 shares of the company's stock, valued at approximately $988,608.48. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erica Schultz sold 26,394 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total transaction of $329,661.06. Following the transaction, the director directly owned 92,500 shares in the company, valued at approximately $1,155,325. This represents a 22.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,896 shares of company stock worth $616,001. 4.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Needham & Company LLC increased their target price on shares of Amplitude from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Piper Sandler increased their target price on shares of Amplitude from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Wall Street Zen cut shares of Amplitude from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Morgan Stanley increased their target price on shares of Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, Robert W. Baird lowered their target price on shares of Amplitude from $17.00 to $14.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.80.

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.