T. Rowe Price Investment Management Inc. Grows Stock Holdings in Amplitude, Inc. (NASDAQ:AMPL)

T. Rowe Price Investment Management Inc. increased its stake in Amplitude, Inc. (NASDAQ:AMPL) by 9.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,996,229 shares of the company’s stock after buying an additional 770,227 shares during the period. T. Rowe Price Investment Management Inc. owned 0.10% of Amplitude worth $94,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMPL. Vanguard Group Inc. grew its stake in shares of Amplitude by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after acquiring an additional 447,277 shares during the last quarter. Sunriver Management LLC boosted its stake in Amplitude by 24.3% in 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. Geode Capital Management LLC grew its position in Amplitude by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock valued at $20,636,000 after purchasing an additional 52,033 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Amplitude by 1.6% in the fourth quarter. Bank of New York Mellon Corp now owns 955,293 shares of the company’s stock worth $10,078,000 after buying an additional 15,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Amplitude by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 683,405 shares of the company’s stock worth $7,210,000 after buying an additional 31,800 shares in the last quarter. Institutional investors own 73.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AMPL shares. Piper Sandler reduced their price target on shares of Amplitude from $17.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Amplitude in a research note on Wednesday. Baird R W raised Amplitude from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 20th. Citigroup lifted their price objective on Amplitude from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Finally, Bank of America upped their target price on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.90.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 35,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $12.80, for a total value 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 represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by company insiders.

Amplitude Stock Up 6.1 %

Shares of NASDAQ:AMPL opened at $8.87 on Friday. The stock has a market capitalization of $1.15 billion, a PE ratio of -11.52 and a beta of 1.40. The firm’s 50 day moving average price is $10.77 and its 200-day moving average price is $10.67. Amplitude, Inc. has a twelve month low of $7.37 and a twelve month high of $14.88.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.27). The business had revenue of $78.13 million during the quarter, compared to the consensus estimate of $76.68 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. Analysts expect that Amplitude, Inc. will post -0.62 earnings per share 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.