Amplitude, Inc. (NASDAQ:AMPL) Short Interest Down 21.5% in December

Amplitude, Inc. (NASDAQ:AMPL) was the recipient of a large decline in short interest in 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 currently 3.3 days. Approximately 1.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AMPL shares. Robert W. Baird raised their price target on shares of Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Piper Sandler boosted their price target on Amplitude from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Scotiabank boosted their price target on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Finally, KeyCorp upgraded 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.57.

Amplitude Trading Down 4.0 %

Shares of AMPL stock traded down $0.44 on Friday, hitting $10.69. 191,130 shares of the stock were exchanged, compared to its average volume of 504,117. The firm has a market capitalization of $1.01 billion, a P/E ratio of -15.96 and a beta of 1.38. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.42. The business has a 50-day moving average of $10.37 and a 200 day moving average of $9.19.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 6,437 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 279,771 shares in the company, valued at approximately $3,362,847.42. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMPL. Blue Trust Inc. grew its stake in Amplitude by 13.5% during the third quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock worth $174,000 after buying an additional 2,324 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Amplitude by 14.4% during the 2nd quarter. Arizona State Retirement System now owns 21,037 shares of the company’s stock worth $187,000 after purchasing an additional 2,642 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Amplitude by 19.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,146 shares of the company’s stock worth $199,000 after purchasing an additional 3,552 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Amplitude by 21.5% during the third quarter. Quantbot Technologies LP now owns 24,390 shares of the company’s stock worth $219,000 after purchasing an additional 4,309 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Amplitude during the second quarter valued at about $41,000. Institutional investors own 73.20% of the company’s stock.

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.