Nuveen LLC Takes Position in Amplitude, Inc. $AMPL

Key Points

• Nuveen LLC acquired 247,883 shares of Amplitude, Inc. valued at approximately $2.5 million, representing about 0.25% of the company's total shares as of the latest quarter.
• Institutional ownership of Amplitude stands at 73.20%, with several firms significantly increasing their stakes recently, indicating growing investor interest in the company.
• Analysts have mixed ratings for Amplitude, with a consensus price target of $13.80, while Bank of America raised its target price to $15.00 and Needham & Company set it at $18.00.

Nuveen LLC purchased a new position in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 247,883 shares of the company's stock, valued at approximately $2,526,000. Nuveen LLC owned 0.25% of Amplitude as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. acquired a new stake in Amplitude in the 1st quarter valued at about $20,292,000. Janus Henderson Group PLC lifted its stake 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 acquiring an additional 12,559 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Amplitude by 6.5% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,579,529 shares of the company's stock worth $16,664,000 after acquiring an additional 96,791 shares during the last quarter. Northern Trust Corp increased its position in shares of Amplitude by 13.0% in the 4th quarter. Northern Trust Corp now owns 769,189 shares of the company's stock valued at $8,115,000 after purchasing an additional 88,227 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Amplitude in the 4th quarter valued at $4,320,000. Institutional investors and hedge funds own 73.20% of the company's stock.

Analyst Upgrades and Downgrades

AMPL has been the subject of several analyst reports. Bank of America upped their price objective on Amplitude from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Piper Sandler upped their target price on shares of Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Morgan Stanley lifted their price target on shares of Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Benchmark restated a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. Finally, Robert W. Baird reduced their target price on Amplitude from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.80.

Amplitude Price Performance

Shares of NASDAQ AMPL traded up $0.26 on Wednesday, hitting $11.02. The company's stock had a trading volume of 1,143,753 shares, compared to its average volume of 1,243,670. The stock has a 50 day moving average of $12.09 and a 200-day moving average of $11.46. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -14.52 and a beta of 1.54. 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, meeting analysts' consensus estimates of $0.01. The firm had revenue of $83.27 million for the quarter, compared to analyst estimates of $81.29 million. Amplitude had a negative return on equity of 33.08% and a negative net margin of 30.43%.The business's revenue was up 13.6% on a year-over-year basis. Sell-side analysts expect that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity

In other Amplitude news, Director Catherine Wong sold 8,502 shares of the company'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 completion of the transaction, the director directly owned 79,152 shares of the company's stock, valued at $988,608.48. This represents a 9.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erica Schultz sold 26,394 shares of Amplitude stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $329,661.06. Following the sale, the director directly owned 92,500 shares in the company, 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 sold a total of 49,896 shares of company stock worth $616,001 over the last ninety days. Corporate insiders own 4.80% of the company's stock.

About Amplitude

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.