Point72 Asset Management L.P. Acquires New Stake in Amplitude, Inc. (NASDAQ:AMPL)

Point72 Asset Management L.P. bought a new position in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 409,523 shares of the company's stock, valued at approximately $4,320,000. Point72 Asset Management L.P. owned 0.43% of Amplitude at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Amplitude during the fourth quarter worth about $38,000. Aquatic Capital Management LLC boosted its stake in Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock worth $44,000 after buying an additional 2,647 shares during the period. Canada Pension Plan Investment Board boosted its stake 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 buying an additional 5,100 shares during the period. Summit Investment Advisors Inc. boosted its stake in Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock worth $86,000 after buying an additional 1,492 shares during the period. Finally, Meros Investment Management LP purchased a new position in Amplitude during the fourth quarter worth about $102,000. Hedge funds and other institutional investors own 73.20% of the company's stock.

Amplitude Trading Down 2.2%

NASDAQ:AMPL traded down $0.27 during mid-day trading on Friday, hitting $12.04. The stock had a trading volume of 919,958 shares, compared to its average volume of 743,733. The stock has a 50-day simple moving average of $10.07 and a two-hundred day simple moving average of $10.94. The company has a market capitalization of $1.19 billion, a PE ratio of -15.64 and a beta of 1.40. Amplitude, Inc. has a twelve month low of $7.37 and a twelve month high of $14.88.

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

Insider Activity at Amplitude

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the sale, the director now owns 286,859 shares of the company's stock, valued at approximately $3,671,795.20. This trade represents a 10.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Catherine Wong sold 3,515 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.75, for a total transaction of $41,301.25. Following the sale, the director now directly owns 87,654 shares in the company, valued at approximately $1,029,934.50. The trade was a 3.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,515 shares of company stock valued at $743,051 over the last 90 days. 23.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMPL. Scotiabank lowered their target price on shares of Amplitude from $12.00 to $10.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. UBS Group lowered their price objective on shares of Amplitude from $13.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Citigroup raised their price objective on shares of Amplitude from $11.00 to $15.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. DA Davidson lowered their price objective on shares of Amplitude from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $16.00 price objective on shares of Amplitude in a research note on Tuesday, May 20th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $13.60.

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.