Amplitude, Inc. (NASDAQ:AMPL) Sees Large Increase in Short Interest

Amplitude, Inc. (NASDAQ:AMPL) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 3,150,000 shares, an increase of 60.7% from the February 28th total of 1,960,000 shares. Based on an average daily volume of 770,700 shares, the days-to-cover ratio is currently 4.1 days. Currently, 4.1% of the shares of the company are short sold.

Insider Activity at Amplitude

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the sale, the director now directly owns 286,859 shares of the company’s stock, valued at approximately $3,671,795.20. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is owned by insiders.

Institutional Trading of Amplitude

Several large investors have recently modified their holdings of AMPL. T. Rowe Price Investment Management Inc. increased its position in Amplitude by 9.4% during 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 in the last quarter. Sunriver Management LLC grew its holdings in shares of Amplitude by 24.3% during the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock worth $39,803,000 after buying an additional 737,600 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of Amplitude by 56.6% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock valued at $13,300,000 after buying an additional 535,624 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Amplitude by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock valued at $96,951,000 after buying an additional 447,277 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Amplitude during the fourth quarter worth approximately $4,320,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.

Amplitude Price Performance

AMPL opened at $10.55 on Friday. The stock’s 50 day simple moving average is $12.08 and its 200 day simple moving average is $10.69. The stock has a market cap of $1.37 billion, a P/E ratio of -13.70 and a beta of 1.35. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The firm had revenue of $78.13 million during the quarter, compared to analysts’ expectations of $76.68 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. Research analysts expect that Amplitude will post -0.62 EPS for the current fiscal year.

Analyst Ratings Changes

AMPL has been the topic of a number of analyst reports. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research report on Friday, December 13th. Bank of America raised their target price on shares of Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. DA Davidson reissued a “buy” rating and set a $16.00 price target on shares of Amplitude in a report on Tuesday, March 11th. Morgan Stanley raised their price objective on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Finally, UBS Group boosted their target price on Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amplitude currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Amplitude Company 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.