Gagnon Securities LLC Purchases New Holdings in Amplitude, Inc. $AMPL

Gagnon Securities LLC acquired a new position in Amplitude, Inc. (NASDAQ:AMPL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 510,731 shares of the company’s stock, valued at approximately $5,475,000. Amplitude accounts for approximately 1.1% of Gagnon Securities LLC’s investment portfolio, making the stock its 28th biggest position.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Amplitude in the third quarter worth approximately $460,000. Baillie Gifford & Co. grew its position in Amplitude by 35.5% in the 3rd quarter. Baillie Gifford & Co. now owns 2,681,896 shares of the company’s stock valued at $28,750,000 after acquiring an additional 703,328 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Amplitude by 53.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 30,260 shares of the company’s stock worth $305,000 after purchasing an additional 10,519 shares during the period. Inspire Advisors LLC bought a new stake in shares of Amplitude during the third quarter worth $2,033,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Amplitude during the third quarter valued at $48,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Insider Activity at Amplitude

In other news, CFO Andrew Casey purchased 30,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was acquired at an average cost of $9.99 per share, with a total value of $299,700.00. Following the completion of the transaction, the chief financial officer owned 1,160,608 shares in the company, valued at $11,594,473.92. This represents a 2.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Spenser Skates sold 42,743 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $12.01, for a total transaction of $513,343.43. The SEC filing for this sale provides additional information. Insiders have sold a total of 462,843 shares of company stock valued at $5,121,643 over the last quarter. 23.83% of the stock is owned by corporate insiders.

Amplitude Stock Performance

Shares of AMPL opened at $9.37 on Friday. The company has a 50 day moving average price of $10.84 and a 200-day moving average price of $11.01. Amplitude, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $14.88. The stock has a market capitalization of $1.25 billion, a PE ratio of -11.71 and a beta of 1.49.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $88.56 million for the quarter, compared to analyst estimates of $86.29 million. Amplitude had a negative net margin of 31.36% and a negative return on equity of 36.27%. Amplitude’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. Equities research analysts forecast that Amplitude, Inc. will post -0.62 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on AMPL. Morgan Stanley set a $16.00 price target on shares of Amplitude and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Robert W. Baird upped their target price on shares of Amplitude from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, December 19th. BTIG Research assumed coverage on shares of Amplitude in a research note on Tuesday, December 16th. They set a “buy” rating and a $14.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amplitude in a report on Monday, December 29th. Finally, UBS Group upgraded Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Amplitude has an average rating of “Moderate Buy” and an average target price of $14.80.

Amplitude Company Profile

Amplitude, Inc is a software company specializing in digital analytics and product intelligence solutions for businesses seeking to optimize user engagement and drive growth. Its core offering, the Amplitude Analytics platform, enables customers to collect and analyze behavioral data from web and mobile applications in real time. The platform provides advanced segmentation, funnel analysis, retention tracking and pathfinding tools that help product, marketing and data teams understand user journeys, identify friction points and measure the impact of new features.

Founded in 2012 by Spenser Skates, Curtis Liu and Jeffrey Wang, Amplitude is headquartered in Redwood City, California, with additional offices spanning North America, Europe and Asia.