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

Shares of Amplitude, Inc. (NASDAQ:AMPL) gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

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

Amplitude Stock Down 3.5 %

The stock has a fifty day simple moving average of $11.11 and a 200 day simple moving average of $9.71. The firm has a market capitalization of $1.15 billion, a P/E ratio of -18.16 and a beta of 1.37.

Insider Buying and Selling at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of Amplitude stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.02, for a total value of $77,372.74. Following the completion of the transaction, the director now owns 279,771 shares in the company, valued at approximately $3,362,847.42. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 35,000 shares of company stock valued at $374,629 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in shares of Amplitude by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 955,293 shares of the company’s stock worth $10,078,000 after purchasing an additional 15,239 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Amplitude by 79.7% during the fourth quarter. New York State Common Retirement Fund now owns 23,680 shares of the company’s stock valued at $250,000 after buying an additional 10,500 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Amplitude by 1.0% during the fourth quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock valued at $1,076,000 after buying an additional 1,040 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Amplitude by 57.7% during the fourth quarter. Blue Trust Inc. now owns 30,783 shares of the company’s stock valued at $325,000 after buying an additional 11,265 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in Amplitude in the fourth quarter valued at $1,455,000. Hedge funds and other 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.