Virtu Financial LLC Takes $309,000 Position in Amplitude, Inc. $AMPL

Key Points

• Virtu Financial LLC acquired 30,302 shares of Amplitude, Inc. valued at approximately $309,000 during the 1st quarter, increasing the institutional ownership to 73.20%.
• Several analysts have revised their price targets for Amplitude, with estimates ranging from $14.00 to $18.00 and an average target price of $13.80.
• Amplitude's shares recently opened at $11.47, with a twelve-month low of $7.55 and a high of $14.88, while the company's latest earnings report showed a revenue increase of 13.6% year-over-year.

Virtu Financial LLC bought a new position in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,302 shares of the company's stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMPL. Invesco Ltd. boosted its stake in Amplitude by 123.3% in the first quarter. Invesco Ltd. now owns 52,603 shares of the company's stock valued at $536,000 after acquiring an additional 29,046 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Amplitude by 549.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 154,788 shares of the company's stock worth $1,577,000 after buying an additional 130,943 shares during the last quarter. Swiss National Bank increased its holdings in shares of Amplitude by 3.0% in the 1st quarter. Swiss National Bank now owns 155,800 shares of the company's stock worth $1,588,000 after buying an additional 4,600 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of Amplitude by 260.7% during the 1st quarter. Headlands Technologies LLC now owns 13,017 shares of the company's stock valued at $133,000 after purchasing an additional 9,408 shares during the last quarter. Finally, Silver Lake Group L.L.C. bought a new position in shares of Amplitude during the 1st quarter valued at $159,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amplitude

In other 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 transaction, the director directly owned 79,152 shares in the company, valued at approximately $988,608.48. This represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Erica Schultz sold 26,394 shares of the company's stock in a transaction dated 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 transaction, the director 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. Over the last 90 days, insiders sold 49,896 shares of company stock worth $616,001. Company insiders own 4.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMPL shares. Piper Sandler increased their price target on shares of Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a research 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 report on Friday, July 11th. UBS Group lowered their price target on shares of Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, Bank of America lifted their price target on shares of Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.80.

Amplitude Stock Down 4.5%

Amplitude stock traded down $0.52 during mid-day trading on Tuesday, reaching $11.15. 1,418,926 shares of the company's stock traded hands, compared to its average volume of 1,212,897. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -14.67 and a beta of 1.54. The stock has a 50 day moving average of $12.25 and a two-hundred day moving average of $11.55. 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 quarterly earnings data on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The business had revenue of $83.27 million for the quarter, compared to analysts' expectations of $81.29 million. The company's revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current year.

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.