Cubist Systematic Strategies LLC Makes New $2.12 Million Investment in Amplitude, Inc. $AMPL

Key Points

• Cubist Systematic Strategies LLC acquired 208,052 shares of Amplitude, Inc. for approximately $2,120,000, representing a 0.21% ownership stake as per their latest SEC filing.
• Several institutional investors, including Baillie Gifford & Co. and Meros Investment Management LP, have recently increased their stakes in Amplitude, collectively influencing the company's institutional ownership, which stands at 73.20%.
• Analysts show a generally positive outlook for Amplitude, with one analyst rating it a Strong Buy while the average target price for the stock is set at $13.80.

Cubist Systematic Strategies LLC purchased a new stake in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 208,052 shares of the company's stock, valued at approximately $2,120,000. Cubist Systematic Strategies LLC owned about 0.21% of Amplitude at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Amplitude by 33.3% during the 1st quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock valued at $59,000 after acquiring an additional 1,455 shares during the last quarter. Meros Investment Management LP acquired a new position in shares of Amplitude during the 4th quarter valued at about $102,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Amplitude during the 1st quarter valued at about $107,000. Aigen Investment Management LP acquired a new position in shares of Amplitude during the 1st quarter valued at about $114,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Amplitude during the 1st quarter valued at about $119,000. Institutional investors and hedge funds own 73.20% of the company's stock.

Amplitude Stock Down 2.4%

AMPL stock traded down $0.27 during mid-day trading on Friday, hitting $11.07. 1,190,767 shares of the company were exchanged, compared to its average volume of 1,677,836. The firm has a market capitalization of $1.13 billion, a P/E ratio of -14.57 and a beta of 1.54. The business has a fifty day simple moving average of $11.90 and a 200-day simple moving average of $11.39. 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 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $83.27 million for the quarter, compared to analyst estimates of $81.29 million. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. Amplitude's revenue for the quarter was up 13.6% compared to the same quarter last year. Research analysts predict that Amplitude, Inc. will post -0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMPL. Bank of America boosted their price target on shares of Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Needham & Company LLC boosted their price objective on shares of Amplitude from $16.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of Amplitude from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. 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. Finally, Benchmark reaffirmed a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Amplitude has a consensus rating of "Moderate Buy" and an average target price of $13.80.

Insider Transactions at Amplitude

In other Amplitude news, Director Erica Schultz sold 7,500 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $11.46, for a total transaction of $85,950.00. Following the sale, the director directly owned 107,406 shares in the company, valued at $1,230,872.76. This represents a 6.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 23.83% of the stock is owned by company insiders.

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.