Amplitude (NASDAQ:AMPL) Shares Down 6.4% – Time to Sell?

Amplitude, Inc. (NASDAQ:AMPL) shares fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $10.76 and last traded at $10.77. 141,932 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 267,473 shares. The stock had previously closed at $11.51.

Wall Street Analysts Forecast Growth

AMPL has been the topic of a number of recent research reports. Robert W. Baird upped their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Scotiabank increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research report on Friday, December 13th. Finally, Piper Sandler raised Amplitude from a “neutral” rating to an “overweight” rating and increased their target price for the company from $11.00 to $15.00 in a report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.14.

Amplitude Stock Up 0.7 %

The firm has a fifty day simple moving average of $10.64 and a 200-day simple moving average of $9.32. The company has a market cap of $1.01 billion, a PE ratio of -15.93 and a beta of 1.34.

Insider Buying and Selling at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.02, for a total transaction of $77,372.74. Following the transaction, the director now owns 279,771 shares of the company’s stock, valued at $3,362,847.42. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMPL. JPMorgan Chase & Co. boosted its stake in shares of Amplitude by 38.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock worth $754,000 after acquiring an additional 23,526 shares in the last quarter. Barclays PLC boosted its position in Amplitude by 371.7% during the third quarter. Barclays PLC now owns 128,537 shares of the company’s stock worth $1,153,000 after purchasing an additional 101,289 shares in the last quarter. Geode Capital Management LLC grew its holdings in Amplitude by 7.1% in the third quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock valued at $17,078,000 after purchasing an additional 126,056 shares during the last quarter. M&T Bank Corp increased its position in shares of Amplitude by 86.8% in the third quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock valued at $1,405,000 after buying an additional 72,806 shares in the last quarter. Finally, Circumference Group LLC acquired a new position in shares of Amplitude during the 3rd quarter worth $1,597,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.