Amplitude (NASDAQ:AMPL) Stock Price Down 5.8% After Insider Selling

Amplitude, Inc. (NASDAQ:AMPL)’s stock price fell 5.8% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $11.62 and last traded at $11.78. 47,905 shares changed hands during trading, a decline of 87% from the average session volume of 372,806 shares. The stock had previously closed at $12.51.

Specifically, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $42,756.00. Following the sale, the director now owns 276,208 shares of the company’s stock, valued at $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts have commented on AMPL shares. Robert W. Baird increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research note on Friday, December 13th. Scotiabank lifted their price target on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Piper Sandler upgraded Amplitude from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $15.00 in a report on Monday, January 6th. Finally, Morgan Stanley upgraded Amplitude from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $10.00 to $11.00 in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Amplitude currently has an average rating of “Hold” and a consensus target price of $12.43.

Amplitude Stock Performance

The business has a 50 day moving average of $11.01 and a 200-day moving average of $9.60.

Hedge Funds Weigh In On Amplitude

A number of hedge funds have recently modified their holdings of AMPL. The Manufacturers Life Insurance Company raised its position in Amplitude by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,934 shares of the company’s stock valued at $355,000 after purchasing an additional 4,647 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Amplitude in the second quarter valued at about $389,000. SG Americas Securities LLC acquired a new stake in shares of Amplitude during the third quarter worth about $326,000. Inspire Investing LLC grew its holdings in shares of Amplitude by 16.3% during the third quarter. Inspire Investing LLC now owns 46,088 shares of the company’s stock worth $413,000 after buying an additional 6,464 shares during the last quarter. Finally, Creative Planning increased its position in Amplitude by 152.4% in the 3rd quarter. Creative Planning now owns 26,166 shares of the company’s stock valued at $235,000 after acquiring an additional 15,800 shares during the period. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

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.