Principal Financial Group Inc. Makes New Investment in Amplitude, Inc. (NASDAQ:AMPL)

Principal Financial Group Inc. acquired a new stake in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 155,614 shares of the company's stock, valued at approximately $1,586,000. Principal Financial Group Inc. owned about 0.12% of Amplitude at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in shares of Amplitude during the 4th quarter worth about $38,000. Aquatic Capital Management LLC boosted its stake in shares of Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock worth $44,000 after acquiring an additional 2,647 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Amplitude by 255.0% during the 4th 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 in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Amplitude by 22.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock worth $86,000 after acquiring an additional 1,492 shares in the last quarter. Finally, Meros Investment Management LP purchased a new stake in shares of Amplitude during the 4th quarter worth about $102,000. 73.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Catherine Wong sold 8,502 shares of Amplitude stock in a transaction that occurred 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 sale, the director owned 79,152 shares of the company's stock, valued at approximately $988,608.48. The trade was a 9.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Vishria sold 25,000 shares of Amplitude stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $10.15, for a total transaction of $253,750.00. Following the completion of the sale, the director owned 261,859 shares of the company's stock, valued at $2,657,868.85. This trade represents a 8.72% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,911 shares of company stock valued at $825,102. 23.83% of the stock is currently owned by company insiders.

Amplitude Trading Up 1.1%

AMPL stock traded up $0.14 during mid-day trading on Wednesday, reaching $12.75. The company's stock had a trading volume of 945,485 shares, compared to its average volume of 826,195. The stock has a market cap of $1.26 billion, a PE ratio of -16.78 and a beta of 1.54. Amplitude, Inc. has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The company's 50 day moving average is $12.38 and its two-hundred day moving average is $11.43.

Amplitude (NASDAQ:AMPL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.16). The business had revenue of $79.95 million during the quarter, compared to analyst estimates of $79.81 million. Amplitude had a negative net margin of 31.01% and a negative return on equity of 32.50%. The firm's revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 EPS. On average, analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on AMPL. Wall Street Zen lowered shares of Amplitude from a "buy" rating to a "hold" rating in a research note on Sunday. Needham & Company LLC restated a "buy" rating and set a $16.00 price target on shares of Amplitude in a research report on Thursday, July 10th. Morgan Stanley upped their price target on shares of Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Benchmark restated a "buy" rating on shares of Amplitude in a research report on Friday, July 11th. Finally, Bank of America increased their target price on Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a report on Monday, June 16th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Amplitude has an average rating of "Moderate Buy" and a consensus target price of $13.50.

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.