Amplitude (NASDAQ:AMPL) Hits New 1-Year Low – Time to Sell?

Amplitude, Inc. (NASDAQ:AMPL)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.82 and last traded at $6.7690, with a volume of 224027 shares changing hands. The stock had previously closed at $7.31.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group upgraded shares of 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. Morgan Stanley set a $16.00 target price on Amplitude and gave the stock an “overweight” rating in a research report on Thursday, January 15th. BTIG Research started coverage on Amplitude in a report on Tuesday, December 16th. They issued a “buy” rating and a $14.00 price target for the company. Piper Sandler decreased their price objective on Amplitude from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. Finally, Robert W. Baird boosted their price objective on Amplitude from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, December 19th. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Amplitude has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

Amplitude Price Performance

The stock has a market capitalization of $880.35 million, a price-to-earnings ratio of -8.24 and a beta of 1.48. The firm has a 50 day simple moving average of $10.49 and a 200-day simple moving average of $10.72.

Insider Activity

In other Amplitude news, CEO Spenser Skates sold 42,743 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $12.01, for a total value of $513,343.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erica Schultz sold 10,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $10.88, for a total transaction of $108,800.00. Following the sale, the director directly owned 114,906 shares in the company, valued at $1,250,177.28. This represents a 8.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,843 shares of company stock valued at $725,643 over the last three months. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amplitude

Institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC boosted its stake in Amplitude by 5.6% in the second quarter. ProShare Advisors LLC now owns 17,865 shares of the company’s stock worth $222,000 after purchasing an additional 955 shares in the last quarter. Blue Trust Inc. lifted its position in Amplitude by 3.9% during the 3rd quarter. Blue Trust Inc. now owns 34,092 shares of the company’s stock worth $365,000 after buying an additional 1,265 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Amplitude by 2.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,739 shares of the company’s stock worth $592,000 after buying an additional 1,340 shares in the last quarter. HighTower Advisors LLC grew its holdings in Amplitude by 4.4% during the 4th quarter. HighTower Advisors LLC now owns 37,791 shares of the company’s stock worth $438,000 after acquiring an additional 1,607 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in Amplitude by 57.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,132 shares of the company’s stock valued at $64,000 after acquiring an additional 1,879 shares in the last quarter. Institutional investors own 73.20% of the company’s stock.

About Amplitude

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.