Meros Investment Management LP Acquires 452,648 Shares of Amplitude, Inc. $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 increased its holdings in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 4,682.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,314 shares of the company's stock after purchasing an additional 452,648 shares during the period. Amplitude makes up 2.8% of Meros Investment Management LP's portfolio, making the stock its 14th biggest position. Meros Investment Management LP owned approximately 0.47% of Amplitude worth $4,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMPL. Aquatic Capital Management LLC grew its holdings in Amplitude by 176.5% in 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 in the last quarter. Russell Investments Group Ltd. lifted its holdings in 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 during the period. Canada Pension Plan Investment Board lifted its holdings in Amplitude by 255.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company's stock worth $75,000 after acquiring an additional 5,100 shares during the period. Summit Investment Advisors Inc. raised 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 buying an additional 1,492 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Amplitude in the first quarter valued at $107,000. Institutional investors own 73.20% of the company's stock.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Erica Schultz sold 26,394 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $329,661.06. Following the transaction, the director owned 92,500 shares of the company's stock, valued at approximately $1,155,325. This represents a 22.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Catherine Wong sold 8,502 shares of the business's 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 in the company, valued at approximately $988,608.48. This represents a 9.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,896 shares of company stock worth $616,001 in the last ninety days. 23.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMPL shares. Wall Street Zen lowered Amplitude from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. UBS Group cut their price target on Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Piper Sandler increased their target price on Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Bank of America raised their price target on Amplitude from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Finally, Scotiabank decreased their target price on Amplitude from $12.00 to $10.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.80.

Amplitude Stock Performance

Shares of AMPL traded up $0.0450 during trading hours on Thursday, hitting $10.9050. The stock had a trading volume of 713,392 shares, compared to its average volume of 1,212,748. The company's fifty day simple moving average is $12.19 and its 200 day simple moving average is $11.54. Amplitude, Inc. has a 12-month low of $7.55 and a 12-month high of $14.88. The firm has a market cap of $1.11 billion, a P/E ratio of -14.35 and a beta of 1.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last announced its 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 analyst estimates of $81.29 million. The firm's revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

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.