Readystate Asset Management LP Makes New $2.20 Million Investment in Amplitude, Inc. (NASDAQ:AMPL)

Readystate Asset Management LP acquired a new position in Amplitude, Inc. (NASDAQ:AMPL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 172,684 shares of the company’s stock, valued at approximately $2,197,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vishria Bird Financial Group LLC raised its position in shares of Amplitude by 0.4% in the 4th quarter. Vishria Bird Financial Group LLC now owns 198,557 shares of the company’s stock valued at $2,526,000 after buying an additional 885 shares in the last quarter. Credit Suisse AG grew its holdings in shares of Amplitude by 2.2% during the 1st quarter. Credit Suisse AG now owns 43,755 shares of the company’s stock valued at $544,000 after purchasing an additional 951 shares during the last quarter. Legal & General Group Plc increased its position in Amplitude by 5.9% during the 4th quarter. Legal & General Group Plc now owns 20,100 shares of the company’s stock worth $243,000 after purchasing an additional 1,112 shares in the last quarter. Alliancebernstein L.P. increased its position in Amplitude by 2.1% during the 4th quarter. Alliancebernstein L.P. now owns 59,660 shares of the company’s stock worth $721,000 after purchasing an additional 1,226 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Amplitude by 8.6% during the 4th quarter. Arizona State Retirement System now owns 17,278 shares of the company’s stock worth $220,000 after purchasing an additional 1,362 shares in the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

Insider Buying and Selling at Amplitude

In other news, Director Catherine Wong sold 3,515 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $11.97, for a total transaction of $42,074.55. Following the completion of the sale, the director now directly owns 86,335 shares in the company, valued at $1,033,429.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 28.71% of the company’s stock.

Amplitude Stock Down 1.9 %

NASDAQ AMPL traded down $0.18 on Wednesday, hitting $9.49. The company’s stock had a trading volume of 243,495 shares, compared to its average volume of 445,180. Amplitude, Inc. has a 1-year low of $8.50 and a 1-year high of $14.42. The company’s 50-day moving average is $11.53 and its 200 day moving average is $11.58. The firm has a market cap of $1.14 billion, a PE ratio of -12.17 and a beta of 1.36.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. The business had revenue of $71.40 million during the quarter, compared to analyst estimates of $71.56 million. On average, equities analysts expect that Amplitude, Inc. will post -0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMPL. KeyCorp began coverage on shares of Amplitude in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Piper Sandler reiterated a “neutral” rating and set a $11.00 price objective on shares of Amplitude in a research report on Wednesday, February 21st. Scotiabank cut shares of Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 price objective for the company. in a research report on Wednesday, February 21st. Morgan Stanley lowered their price objective on shares of Amplitude from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Citigroup lowered their price objective on shares of Amplitude from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.50.

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.