Informed Momentum Co LLC Takes $1.92 Million Position in Amplitude, Inc. (NASDAQ:AMPL)

Key Points

• Informed Momentum Co LLC made a new investment in Amplitude, purchasing 188,463 shares valued at approximately $1.92 million, as disclosed in their recent SEC filing.
• Amplitude recently reported quarterly earnings hitting analysts' estimates, showing revenue growth of 13.6% year-over-year, with a total revenue of $83.27 million for the quarter.
• Institutional investors own 73.20% of Amplitude's stock, indicating strong institutional interest, with significant stake increases from multiple hedge funds in the past quarters.

Informed Momentum Co LLC purchased a new stake in Amplitude, Inc. (NASDAQ:AMPL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 188,463 shares of the company's stock, valued at approximately $1,920,000. Informed Momentum Co LLC owned 0.19% of Amplitude at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Aquatic Capital Management LLC increased its stake in shares of Amplitude by 176.5% in the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock valued at $44,000 after purchasing an additional 2,647 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Amplitude by 255.0% in the fourth 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. increased its stake in shares of Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock valued at $86,000 after purchasing an additional 1,492 shares during the period. Meros Investment Management LP acquired a new stake in shares of Amplitude in the fourth quarter valued at approximately $102,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Amplitude during the first quarter valued at approximately $107,000. Institutional investors and hedge funds own 73.20% of the company's stock.

Amplitude Trading Up 1.0%

Shares of Amplitude stock traded up $0.11 during trading on Friday, hitting $11.47. 1,914,892 shares of the stock were exchanged, compared to its average volume of 1,627,719. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -15.09 and a beta of 1.54. The company has a fifty day moving average price of $12.27 and a 200-day moving average price of $11.55. 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 quarterly earnings data on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The company had revenue of $83.27 million for the quarter, compared to analyst estimates of $81.29 million. The firm's revenue was up 13.6% compared to the same quarter last year. Equities research analysts forecast that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Insider Transactions at Amplitude

In related news, Director Erica Schultz sold 7,500 shares of Amplitude stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $12.56, for a total transaction of $94,200.00. Following the sale, the director directly owned 107,406 shares in the company, valued at $1,349,019.36. This trade represents a 6.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Catherine Wong sold 8,502 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was 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. The trade was a 9.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,911 shares of company stock worth $571,352 over the last quarter. Corporate insiders own 23.83% of the company's stock.

Analysts Set New Price Targets

AMPL has been the topic of a number of research analyst reports. Piper Sandler raised their price objective on shares of Amplitude from $15.00 to $16.00 and gave the company 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 report on Sunday, July 20th. Benchmark restated a "buy" rating on shares of Amplitude in a report on Friday, July 11th. Needham & Company LLC raised their target price on shares of Amplitude from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, UBS Group reduced their target price on shares of Amplitude from $13.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.