Amplitude (NASDAQ:AMPL) Shares Gap Up – Here’s What Happened

Amplitude, Inc. (NASDAQ:AMPLGet Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $10.89, but opened at $11.76. Amplitude shares last traded at $11.55, with a volume of 79,952 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Scotiabank raised their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Robert W. Baird raised their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a report on Friday, December 13th. Finally, Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $11.00 to $15.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Amplitude presently has a consensus rating of “Hold” and a consensus price target of $12.14.

View Our Latest Report on Amplitude

Amplitude Trading Up 7.0 %

The company has a market cap of $1.10 billion, a P/E ratio of -17.39 and a beta of 1.38. The business’s 50 day simple moving average is $10.54 and its 200 day simple moving average is $9.27.

Insider Activity

In other news, Director Eric Vishria sold 25,000 shares of Amplitude stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $10.18, for a total transaction of $254,500.00. Following the sale, the director now owns 286,208 shares in the company, valued at $2,913,597.44. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new stake in Amplitude in the second quarter worth $92,000. Rhumbline Advisers increased its position in Amplitude by 14.5% in the second quarter. Rhumbline Advisers now owns 103,237 shares of the company’s stock worth $919,000 after purchasing an additional 13,099 shares during the last quarter. TD Asset Management Inc increased its position in Amplitude by 24.2% in the second quarter. TD Asset Management Inc now owns 224,818 shares of the company’s stock worth $2,001,000 after purchasing an additional 43,780 shares during the last quarter. Arizona State Retirement System increased its position in Amplitude by 14.4% in the second quarter. Arizona State Retirement System now owns 21,037 shares of the company’s stock worth $187,000 after purchasing an additional 2,642 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Amplitude in the second quarter worth $41,000. Institutional investors own 73.20% of the company’s stock.

About Amplitude

(Get Free Report)

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.

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