Amplitude, Inc. (NASDAQ:AMPL) Sees Significant Drop in Short Interest

Amplitude, Inc. (NASDAQ:AMPL) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 1,350,000 shares, a decline of 21.5% from the November 30th total of 1,720,000 shares. Based on an average daily trading volume, of 409,400 shares, the short-interest ratio is presently 3.3 days. Approximately 1.8% of the shares of the company are short sold.

Amplitude Price Performance

NASDAQ:AMPL opened at $10.69 on Friday. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.42. The stock’s fifty day moving average price is $10.37 and its two-hundred day moving average price is $9.18. The company has a market cap of $1.01 billion, a P/E ratio of -15.96 and a beta of 1.38.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMPL. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research note on Friday, December 13th. Piper Sandler increased their price objective on Amplitude from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Robert W. Baird raised their target price on Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Scotiabank upped their price target on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.57.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were 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 of the company’s stock, valued at approximately $2,913,597.44. The trade was a 8.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Amplitude

A number of institutional investors have recently added to or reduced their stakes in AMPL. FMR LLC grew its holdings in Amplitude by 0.8% during the 3rd quarter. FMR LLC now owns 8,056,003 shares of the company’s stock valued at $72,262,000 after buying an additional 64,574 shares in the last quarter. Geode Capital Management LLC grew its stake in Amplitude by 7.1% during the third quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock valued at $17,078,000 after acquiring an additional 126,056 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Amplitude by 56.6% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock worth $13,300,000 after acquiring an additional 535,624 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Amplitude by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 651,605 shares of the company’s stock worth $5,845,000 after acquiring an additional 20,657 shares during the period. Finally, Cerity Partners LLC lifted its stake in Amplitude by 524.9% in the 3rd quarter. Cerity Partners LLC now owns 460,624 shares of the company’s stock worth $4,132,000 after purchasing an additional 386,915 shares in the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.

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.