Voya Investment Management LLC Increases Stake in Amplitude, Inc. $AMPL

Key Points

• Voya Investment Management LLC significantly increased its stake in Amplitude, Inc. by 516.1% during the first quarter, now owning 163,121 shares valued at approximately $1.66 million.
• Several brokerages have recently upgraded their ratings on Amplitude, with price targets raised, demonstrating increased investor confidence—Needham & Company set their new target at $18.00.
• Amplitude has experienced insider selling, with Director Erica Schultz offloading 10,000 shares at an average price of $11.06, resulting in an 8.52% decrease in her holdings.

Voya Investment Management LLC increased its position in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 516.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,121 shares of the company's stock after buying an additional 136,646 shares during the period. Voya Investment Management LLC owned about 0.17% of Amplitude worth $1,662,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of Amplitude by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock valued at $59,000 after buying an additional 1,455 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Amplitude during the first quarter valued at $107,000. Aigen Investment Management LP purchased a new position in shares of Amplitude during the first quarter valued at $114,000. Teacher Retirement System of Texas purchased a new position in shares of Amplitude during the first quarter valued at $119,000. Finally, Summit Trail Advisors LLC purchased a new position in shares of Amplitude during the first quarter valued at $124,000. Hedge funds and other institutional investors own 73.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMPL. Needham & Company LLC raised their price target on Amplitude from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Piper Sandler lifted their target price on Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Bank of America lifted their target price on Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Wall Street Zen lowered Amplitude from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Benchmark reiterated a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Amplitude presently has an average rating of "Moderate Buy" and a consensus target price of $13.80.

Insider Transactions at Amplitude

In other news, Director Erica Schultz sold 10,000 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $11.06, for a total transaction of $110,600.00. Following the sale, the director owned 107,406 shares of the company's stock, valued at approximately $1,187,910.36. This trade represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 25,000 shares of company stock worth $290,750. 4.80% of the stock is currently owned by corporate insiders.

Amplitude Stock Up 1.9%

Amplitude stock opened at $12.30 on Tuesday. Amplitude, Inc. has a 52 week low of $7.55 and a 52 week high of $14.88. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -16.18 and a beta of 1.54. The stock has a 50-day moving average price of $11.77 and a 200 day moving average price of $11.34.

Amplitude (NASDAQ:AMPL - Get Free Report) last announced its quarterly 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. Amplitude had a negative return on equity of 33.08% and a negative net margin of 30.43%.The company had revenue of $83.27 million during the quarter, compared to the consensus estimate of $81.29 million. The firm's revenue was up 13.6% compared to the same quarter last year. Research analysts anticipate that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

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.

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