Stanley Laman Group Ltd. Increases Stock Holdings in Amplitude, Inc. (NASDAQ:AMPL)

Stanley Laman Group Ltd. increased its holdings in shares of Amplitude, Inc. (NASDAQ:AMPL) by 10.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,692 shares of the company’s stock after buying an additional 4,387 shares during the period. Stanley Laman Group Ltd.’s holdings in Amplitude were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Amplitude by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 683,405 shares of the company’s stock valued at $7,210,000 after buying an additional 31,800 shares in the last quarter. Thrive Capital Management LLC purchased a new position in Amplitude in the 4th quarter valued at $904,000. M&T Bank Corp lifted its holdings in Amplitude by 16.6% in the 4th quarter. M&T Bank Corp now owns 182,712 shares of the company’s stock valued at $1,927,000 after purchasing an additional 26,024 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Amplitude by 2.7% in 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 in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Amplitude by 13.1% in the 4th quarter. Bank of America Corp DE now owns 356,001 shares of the company’s stock valued at $3,756,000 after purchasing an additional 41,229 shares in the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Amplitude Stock Down 6.7%

Shares of AMPL opened at $11.37 on Friday. Amplitude, Inc. has a 52-week low of $7.37 and a 52-week high of $14.88. The company has a market capitalization of $1.12 billion, a PE ratio of -14.77 and a beta of 1.56. The stock has a fifty day simple moving average of $10.65 and a two-hundred day simple moving average of $11.16.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). The company had revenue of $79.95 million during the quarter, compared to analyst estimates of $79.81 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $0.01 earnings per share. As a group, equities analysts anticipate that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMPL. Bank of America raised their price objective on Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Baird R W upgraded Amplitude from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 20th. Morgan Stanley raised their price objective on Amplitude from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Robert W. Baird decreased their price objective on Amplitude from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Finally, Scotiabank decreased their price objective on Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.60.

Insider Buying and Selling

In related news, Director Erica Schultz sold 26,394 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total transaction of $329,661.06. Following the completion of the sale, the director now directly owns 92,500 shares of the company’s stock, valued at approximately $1,155,325. This trade represents a 22.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.75, for a total value of $41,301.25. Following the sale, the director now directly owns 87,654 shares of the company’s stock, valued at $1,029,934.50. The trade was a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,411 shares of company stock valued at $730,902. 23.83% of the stock is currently owned by insiders.

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.