Meros Investment Management LP Grows Stock Position in Amplitude, Inc. (NASDAQ:AMPL)

Key Points

• Meros Investment Management LP significantly increased its stake in Amplitude, Inc. by 4,682.9%, now owning 462,314 shares, which accounts for approximately 2.8% of its holdings.
• Several institutional investors, including Aquatic Capital Management LLC and Canada Pension Plan Investment Board, have also raised their stakes in Amplitude, indicating strong interest in the company's stock.
• Despite recent insider sales, Amplitude's current market capitalization is $1.17 billion, and it has a consensus rating of "Moderate Buy" with a consensus price target of $13.80.

Meros Investment Management LP boosted its stake in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 4,682.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 462,314 shares of the company's stock after buying an additional 452,648 shares during the period. Amplitude makes up approximately 2.8% of Meros Investment Management LP's holdings, making the stock its 14th largest holding. Meros Investment Management LP owned approximately 0.47% of Amplitude worth $4,711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aquatic Capital Management LLC raised its holdings in Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock valued at $44,000 after buying an additional 2,647 shares during the period. Russell Investments Group Ltd. raised its holdings in 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 buying an additional 1,455 shares during the period. Canada Pension Plan Investment Board raised its holdings in Amplitude by 255.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company's stock valued at $75,000 after buying an additional 5,100 shares during the period. Summit Investment Advisors Inc. raised its holdings in Amplitude by 22.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock valued at $86,000 after buying an additional 1,492 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Amplitude during the 1st quarter valued at $107,000. Hedge funds and other institutional investors own 73.20% of the company's stock.

Insider Transactions at Amplitude

In related news, Director Erica Schultz sold 7,500 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $12.56, for a total transaction of $94,200.00. Following the sale, the director owned 107,406 shares of the company's stock, valued at $1,349,019.36. This trade 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 through this link. Also, Director Catherine Wong sold 8,502 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total value of $106,189.98. Following the sale, the director directly owned 79,152 shares in the company, 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. In the last ninety days, insiders have sold 45,911 shares of company stock worth $571,352. 23.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on AMPL. Scotiabank cut their price objective on Amplitude from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Piper Sandler upped their price objective on Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. UBS Group cut their price objective on Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC upped their price objective on Amplitude from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Bank of America upped their price objective on Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amplitude currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.80.

Amplitude Trading Up 1.0%

AMPL opened at $11.47 on Friday. Amplitude, Inc. has a 12-month low of $7.55 and a 12-month high of $14.88. The business's fifty day simple moving average is $12.27 and its 200-day simple moving average is $11.55. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -15.09 and a beta of 1.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted 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. Amplitude had a negative return on equity of 33.08% and a negative net margin of 30.43%. The business had revenue of $83.27 million for the quarter, compared to the consensus estimate of $81.29 million. The business's revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts predict that Amplitude, Inc. will post -0.62 EPS for the current 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.

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