Amplitude, Inc. (NASDAQ:AMPL) Short Interest Down 21.5% in December

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,350,000 shares, a decrease of 21.5% from the November 30th total of 1,720,000 shares. Based on an average daily trading volume, of 409,400 shares, the days-to-cover ratio is presently 3.3 days. Currently, 1.8% of the shares of the company are sold short.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.02, for a total transaction of $77,372.74. Following the completion of the transaction, the director now owns 279,771 shares of the company's stock, valued at approximately $3,362,847.42. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Amplitude by 38.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company's stock worth $754,000 after acquiring an additional 23,526 shares during the last quarter. Barclays PLC grew its holdings in shares of Amplitude by 371.7% in the third quarter. Barclays PLC now owns 128,537 shares of the company's stock worth $1,153,000 after purchasing an additional 101,289 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Amplitude by 7.1% in the third quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company's stock worth $17,078,000 after buying an additional 126,056 shares during the period. M&T Bank Corp increased its stake in shares of Amplitude by 86.8% in the third quarter. M&T Bank Corp now owns 156,688 shares of the company's stock worth $1,405,000 after buying an additional 72,806 shares during the period. Finally, Circumference Group LLC bought a new stake in Amplitude during the 3rd quarter valued at $1,597,000. 73.20% of the stock is owned by institutional investors.

Amplitude Stock Performance

NASDAQ:AMPL traded down $0.44 during trading hours on Friday, reaching $10.69. The company's stock had a trading volume of 191,130 shares, compared to its average volume of 504,117. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -15.96 and a beta of 1.38. The firm has a 50-day simple moving average of $10.37 and a 200-day simple moving average of $9.19. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.42.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMPL shares. Piper Sandler boosted their price target on shares of Amplitude from $9.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. KeyCorp upgraded Amplitude from a "sector weight" rating to an "overweight" rating and set a $15.00 target price for the company in a research report on Friday, December 13th. Scotiabank raised their price target on Amplitude from $10.00 to $12.00 and gave the company a "sector perform" rating in a report on Friday, November 8th. Finally, Robert W. Baird lifted their price target on Amplitude from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $11.57.

About Amplitude

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.