Liberty Mutual Group Asset Management Inc. Reduces Stock Position in Amplitude, Inc. $AMPL

Key Points

• Liberty Mutual Group Asset Management Inc. reduced its holdings in Amplitude, Inc. by 37.1% during the second quarter, owning 58,452 shares after selling 34,456 shares.
• Despite Liberty Mutual's decrease, several institutional investors, including Russell Investments Group Ltd. and CWM LLC, increased their stakes in Amplitude.
• Amplitude reported a revenue of $83.27 million for the last quarter, exceeding analyst expectations, while its stock has a consensus rating of "Moderate Buy" with a price target of $14.20.

Liberty Mutual Group Asset Management Inc. lowered its stake in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 37.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,452 shares of the company's stock after selling 34,456 shares during the period. Amplitude accounts for approximately 0.2% of Liberty Mutual Group Asset Management Inc.'s portfolio, making the stock its 13th largest holding. Liberty Mutual Group Asset Management Inc. owned 0.06% of Amplitude worth $725,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in shares of Amplitude by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock worth $59,000 after acquiring an additional 1,455 shares in the last quarter. CWM LLC lifted its position in shares of Amplitude by 14.1% during the second quarter. CWM LLC now owns 16,291 shares of the company's stock worth $202,000 after acquiring an additional 2,018 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Amplitude by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,399 shares of the company's stock worth $473,000 after acquiring an additional 2,038 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Amplitude by 16.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,989 shares of the company's stock valued at $306,000 after buying an additional 4,301 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Amplitude by 13.1% during the second quarter. Parallel Advisors LLC now owns 39,097 shares of the company's stock valued at $485,000 after buying an additional 4,528 shares during the period. Hedge funds and other institutional investors own 73.20% of the company's stock.

Amplitude Trading Up 0.9%

AMPL opened at $10.15 on Wednesday. The company has a market cap of $1.04 billion, a P/E ratio of -13.36 and a beta of 1.52. The business's 50-day moving average price is $11.16 and its 200-day moving average price is $11.22. 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 posted its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $83.27 million for 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 was up 13.6% compared to the same quarter last year. Equities research analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Amplitude in a research note on Wednesday, October 8th. Wall Street Zen lowered Amplitude from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Piper Sandler lifted 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. Benchmark reissued a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. Finally, Needham & Company LLC lifted their price objective on Amplitude from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Amplitude has a consensus rating of "Moderate Buy" and a consensus price target of $14.20.

Insiders Place Their Bets

In other Amplitude news, Director Erica Schultz sold 10,000 shares of Amplitude stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $11.06, for a total transaction of $110,600.00. Following the sale, the director directly owned 107,406 shares of the company's stock, valued at approximately $1,187,910.36. The trade was a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.80% of the company's stock.

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.

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