Utah Retirement Systems Has $1.19 Million Stock Holdings in Amplitude, Inc. (NASDAQ:AMPL)

Utah Retirement Systems cut its stake in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,834 shares of the company's stock after selling 28,600 shares during the period. Utah Retirement Systems owned approximately 0.12% of Amplitude worth $1,190,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its stake in Amplitude by 9.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock valued at $94,911,000 after purchasing an additional 770,227 shares in the last quarter. Sunriver Management LLC grew its holdings in shares of Amplitude by 24.3% during the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company's stock worth $39,803,000 after purchasing an additional 737,600 shares in the last quarter. Vanguard Group Inc. increased its stake in Amplitude by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company's stock valued at $96,951,000 after acquiring an additional 447,277 shares during the period. Monimus Capital Management LP acquired a new position in Amplitude during the fourth quarter worth $3,630,000. Finally, JPMorgan Chase & Co. lifted its holdings in Amplitude by 265.5% during the 4th quarter. JPMorgan Chase & Co. now owns 307,225 shares of the company's stock valued at $3,241,000 after purchasing an additional 223,175 shares during the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

Amplitude Stock Up 0.5 %

Shares of NASDAQ AMPL traded up $0.05 during trading on Wednesday, reaching $9.42. The company had a trading volume of 808,712 shares, compared to its average volume of 671,987. The stock has a market cap of $929.89 million, a P/E ratio of -12.23 and a beta of 1.40. The company's fifty day moving average price is $10.21 and its 200-day moving average price is $10.72. Amplitude, Inc. has a 12 month low of $7.37 and a 12 month high of $14.88.

Amplitude (NASDAQ:AMPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The firm had revenue of $78.13 million for the quarter, compared to the consensus estimate of $76.68 million. As a group, equities analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 35,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the transaction, the director now owns 286,859 shares of the company's stock, valued at $3,671,795.20. This represents a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Scotiabank dropped 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. Bank of America boosted their price target on shares of Amplitude from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Robert W. Baird upgraded shares of Amplitude from a "neutral" rating to an "outperform" rating and upped their price target for the company from $12.00 to $17.00 in a report on Thursday, February 20th. Morgan Stanley reduced their price objective on Amplitude from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reissued a "buy" rating and set a $16.00 price target on shares of Amplitude in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $13.90.

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.