State Street Corp Sells 41,764 Shares of Amplitude, Inc. (NASDAQ:AMPL)

State Street Corp trimmed its holdings in Amplitude, Inc. (NASDAQ:AMPL) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,868,432 shares of the company’s stock after selling 41,764 shares during the quarter. State Street Corp owned approximately 1.98% of Amplitude worth $16,760,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in shares of Amplitude in the second quarter worth about $41,000. Principal Financial Group Inc. bought a new stake in Amplitude in the second quarter worth $92,000. Intech Investment Management LLC purchased a new stake in Amplitude during the third quarter valued at $128,000. XTX Topco Ltd bought a new position in shares of Amplitude in the 2nd quarter valued at about $133,000. Finally, MQS Management LLC grew its position in Amplitude by 69.4% in the second quarter. MQS Management LLC now owns 18,617 shares of the company’s stock worth $166,000 after acquiring an additional 7,625 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

Amplitude Stock Up 0.9 %

Shares of NASDAQ AMPL opened at $11.02 on Wednesday. Amplitude, Inc. has a twelve month low of $7.37 and a twelve month high of $14.42. The business has a fifty day simple moving average of $10.21 and a two-hundred day simple moving average of $9.12. The firm has a market cap of $1.04 billion, a PE ratio of -16.45 and a beta of 1.38.

Insider Activity at Amplitude

In other news, Director Eric Vishria sold 25,000 shares of Amplitude stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.18, for a total value of $254,500.00. Following the transaction, the director now directly owns 286,208 shares in the company, valued at approximately $2,913,597.44. This trade represents a 8.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. KeyCorp upgraded 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. Piper Sandler increased their target price on shares of Amplitude from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Scotiabank lifted their price target on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Finally, Robert W. Baird increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.57.

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.