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

Principal Financial Group Inc. purchased a new position in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 155,614 shares of the company's stock, valued at approximately $1,586,000. Principal Financial Group Inc. owned approximately 0.12% of Amplitude as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Amplitude by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company's stock worth $96,951,000 after purchasing an additional 447,277 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Amplitude by 9.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock worth $94,911,000 after purchasing an additional 770,227 shares during the last quarter. Sunriver Management LLC grew its holdings in Amplitude by 24.3% in the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company's stock valued at $39,803,000 after buying an additional 737,600 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Amplitude by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company's stock worth $20,636,000 after acquiring an additional 52,033 shares during the period. Finally, Janus Henderson Group PLC raised its position in Amplitude by 0.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,645,539 shares of the company's stock valued at $17,360,000 after purchasing an additional 12,559 shares during the last quarter. Hedge funds and other institutional investors own 73.20% of the company's stock.

Insiders Place Their Bets

In other news, Director Erica Schultz sold 7,500 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $12.56, for a total transaction of $94,200.00. Following the sale, the director directly owned 107,406 shares in the company, valued at approximately $1,349,019.36. This represents a 6.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $106,189.98. Following the sale, the director owned 79,152 shares in the company, valued at $988,608.48. This represents a 9.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,911 shares of company stock valued at $825,102. Company insiders own 23.83% of the company's stock.

Amplitude Trading Down 1.9%

Shares of AMPL stock traded down $0.25 during trading on Friday, hitting $12.59. The company's stock had a trading volume of 1,132,756 shares, compared to its average volume of 822,496. Amplitude, Inc. has a 52 week low of $7.37 and a 52 week high of $14.88. The business has a fifty day moving average of $12.34 and a 200-day moving average of $11.39. The company has a market cap of $1.24 billion, a PE ratio of -16.57 and a beta of 1.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last released its quarterly 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). Amplitude had a negative return on equity of 32.50% and a negative net margin of 31.01%. The firm had revenue of $79.95 million during the quarter, compared to the consensus estimate of $79.81 million. During the same period in the previous year, the company posted $0.01 EPS. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Amplitude, Inc. will post -0.62 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. DA Davidson cut their price target on Amplitude from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Bank of America increased their price objective on Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a report on Monday, June 16th. Scotiabank reduced their target price on Amplitude from $12.00 to $10.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Wall Street Zen cut shares of Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Morgan Stanley lifted their price objective on shares of Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Amplitude currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.50.

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.