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

Shares of Amplitude, Inc. (NASDAQ:AMPL) gapped down before the market opened on Wednesday . The stock had previously closed at $12.61, but opened at $12.13. Amplitude shares last traded at $11.82, with a volume of 112,322 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMPL shares. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $10.00 to $11.00 in a research note on Monday, January 13th. KeyCorp raised 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. Robert W. Baird increased 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. Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $11.00 to $15.00 in a research note on Monday, January 6th. Finally, Scotiabank increased their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.43.

Amplitude Trading Down 3.5 %

The firm’s 50-day moving average is $11.11 and its two-hundred day moving average is $9.71. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -18.16 and a beta of 1.37.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Eric Vishria sold 25,000 shares of the 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 completion of the sale, the director now owns 286,208 shares in the company, valued at approximately $2,913,597.44. This represents a 8.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 35,000 shares of company stock worth $374,629. Insiders own 4.80% of the company’s stock.

Institutional Trading of Amplitude

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in Amplitude by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 955,293 shares of the company’s stock valued at $10,078,000 after acquiring an additional 15,239 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Amplitude by 79.7% during the 4th quarter. New York State Common Retirement Fund now owns 23,680 shares of the company’s stock worth $250,000 after buying an additional 10,500 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Amplitude by 1.0% during the 4th quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock worth $1,076,000 after buying an additional 1,040 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Amplitude by 57.7% during the 4th quarter. Blue Trust Inc. now owns 30,783 shares of the company’s stock worth $325,000 after buying an additional 11,265 shares during the last quarter. Finally, Savant Capital LLC acquired a new stake in shares of Amplitude during the 4th quarter worth approximately $1,455,000. Institutional investors and hedge funds 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.