Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Increases By 17.4%

Amplitude, Inc. (NASDAQ:AMPL) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,960,000 shares, an increase of 17.4% from the February 13th total of 1,670,000 shares. Based on an average trading volume of 661,300 shares, the days-to-cover ratio is presently 3.0 days. Approximately 2.5% of the company’s stock are sold short.

Amplitude Price Performance

AMPL stock opened at $11.64 on Thursday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -15.12 and a beta of 1.35. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88. The firm has a fifty day moving average price of $11.95 and a two-hundred day moving average price of $10.55.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The business had revenue of $78.13 million for the quarter, compared to the consensus estimate of $76.68 million. As a group, analysts expect that Amplitude will post -0.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on AMPL. 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. DA Davidson reaffirmed a “buy” rating and issued a $16.00 target price on shares of Amplitude in a research report on Tuesday, March 11th. Baird R W raised shares of Amplitude from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 20th. Citigroup upped their price target on shares of Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Finally, Bank of America raised their price objective on shares of Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the transaction, the director now owns 286,859 shares in the company, valued at $3,671,795.20. The trade was a 10.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.80% of the stock is owned by company insiders.

Institutional Trading of Amplitude

Institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted its stake in Amplitude by 9.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock valued at $94,911,000 after purchasing an additional 770,227 shares during the period. Sunriver Management LLC grew its holdings in Amplitude by 24.3% in the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock worth $39,803,000 after buying an additional 737,600 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in Amplitude by 56.6% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock valued at $13,300,000 after acquiring an additional 535,624 shares during the period. Vanguard Group Inc. increased its position in Amplitude by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock valued at $96,951,000 after acquiring an additional 447,277 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Amplitude during the 4th quarter valued at $4,320,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.