Millennium Management LLC Trims Stock Holdings in Amplitude, Inc. (NASDAQ:AMPL)

Millennium Management LLC decreased its holdings in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 91.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,751 shares of the company's stock after selling 139,123 shares during the quarter. Millennium Management LLC's holdings in Amplitude were worth $145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of AMPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Amplitude by 6.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,361 shares of the company's stock worth $468,000 after buying an additional 2,512 shares during the period. Janus Henderson Group PLC boosted its position in Amplitude by 0.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,645,539 shares of the company's stock worth $17,360,000 after purchasing an additional 12,559 shares during the last quarter. Bank of America Corp DE grew its position in shares of Amplitude by 13.1% during the 4th quarter. Bank of America Corp DE now owns 356,001 shares of the company's stock valued at $3,756,000 after acquiring an additional 41,229 shares during the period. BNP Paribas Financial Markets purchased a new position in Amplitude during the fourth quarter valued at approximately $297,000. Finally, Ameriprise Financial Inc. purchased a new stake in Amplitude during the 4th quarter valued at approximately $129,000. 73.20% of the stock is currently owned by institutional investors.

Amplitude Trading Down 6.7%

Shares of AMPL traded down $0.82 during mid-day trading on Friday, hitting $11.37. 1,009,002 shares of the company traded hands, compared to its average volume of 759,254. The business has a 50-day moving average of $10.59 and a 200 day moving average of $11.15. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -14.77 and a beta of 1.56. Amplitude, Inc. has a one year low of $7.37 and a one year high of $14.88.

Amplitude (NASDAQ:AMPL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.16). Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The business had revenue of $79.95 million for the quarter, compared to the consensus estimate of $79.81 million. During the same period in the prior year, the business posted $0.01 earnings per share. Amplitude's revenue was up 10.1% compared to the same quarter last year. As a group, analysts anticipate that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

AMPL has been the topic of a number of recent analyst reports. UBS Group reduced their target price on Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Baird R W raised shares of Amplitude from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 20th. Piper Sandler raised their price objective on Amplitude from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Bank of America lifted their price target on Amplitude from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Robert W. Baird cut their target price on Amplitude from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amplitude presently has an average rating of "Moderate Buy" and a consensus price target of $13.60.

Insider Transactions at Amplitude

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.75, for a total transaction of $41,301.25. Following the sale, the director now owns 87,654 shares of the company's stock, valued at $1,029,934.50. The trade was a 3.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Erica Schultz sold 26,394 shares of the business'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 $329,661.06. Following the completion of the sale, the director now owns 92,500 shares of the company's stock, valued at approximately $1,155,325. The trade was a 22.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,411 shares of company stock valued at $730,902 in the last 90 days. 23.83% of the stock is currently owned by corporate 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.