Principal Financial Group Inc. Buys New Stake in Amplitude, Inc. (NASDAQ:AMPL)

Principal Financial Group Inc. purchased a new stake in shares of Amplitude, Inc. (NASDAQ:AMPL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,319 shares of the company’s stock, valued at approximately $92,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMPL. Janus Henderson Group PLC grew its position in shares of Amplitude by 3,607.6% in the first quarter. Janus Henderson Group PLC now owns 859,723 shares of the company’s stock valued at $9,353,000 after purchasing an additional 836,535 shares during the period. Sunriver Management LLC boosted its holdings in Amplitude by 28.2% in the 4th quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock worth $28,529,000 after buying an additional 493,046 shares during the last quarter. Vanguard Group Inc. increased its stake in Amplitude by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company’s stock worth $88,214,000 after buying an additional 264,477 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. increased its stake in Amplitude by 14.3% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,515,100 shares of the company’s stock worth $19,272,000 after buying an additional 190,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Amplitude by 918.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company’s stock valued at $2,111,000 after acquiring an additional 174,967 shares during the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMPL. Robert W. Baird dropped their price target on Amplitude from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. UBS Group dropped their target price on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, Piper Sandler decreased their price target on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Amplitude has an average rating of “Hold” and a consensus price target of $10.33.

Amplitude Stock Up 0.2 %

Shares of AMPL opened at $8.86 on Tuesday. Amplitude, Inc. has a 52-week low of $7.37 and a 52-week high of $14.42. The stock has a fifty day simple moving average of $8.46 and a two-hundred day simple moving average of $9.28. The company has a market capitalization of $1.08 billion, a PE ratio of -12.14 and a beta of 1.32.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.18). The firm had revenue of $73.30 million for the quarter, compared to analyst estimates of $71.98 million. Amplitude had a negative return on equity of 27.58% and a negative net margin of 28.19%. Amplitude’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) earnings per share. As a group, equities analysts anticipate that Amplitude, Inc. will post -0.64 earnings per share for the current fiscal 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.