Amplitude (NASDAQ:AMPL) Shares Down 6.4% - Should You Sell?

Shares of Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) dropped 6.4% during trading on Tuesday . The company traded as low as $10.76 and last traded at $10.77. Approximately 141,932 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 267,473 shares. The stock had previously closed at $11.51.

Analyst Upgrades and Downgrades

AMPL has been the subject of a number of research reports. Robert W. Baird lifted their price objective on Amplitude from $10.00 to $12.00 and gave the stock 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 on the stock in a report on Friday, December 13th. Piper Sandler upgraded Amplitude from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $11.00 to $15.00 in a report on Monday. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $12.14.

Amplitude Trading Down 7.9 %

The firm has a market cap of $1.00 billion, a P/E ratio of -15.82 and a beta of 1.34. The company has a fifty day moving average price of $10.59 and a two-hundred day moving average price of $9.30.

Insider Activity

In related news, Director Eric Vishria sold 6,437 shares of Amplitude stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.02, for a total value of $77,372.74. Following the sale, the director now owns 279,771 shares of the company's stock, valued at approximately $3,362,847.42. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amplitude

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. raised its position in Amplitude by 13.5% in the 3rd quarter. Blue Trust Inc. now owns 19,518 shares of the company's stock valued at $174,000 after buying an additional 2,324 shares during the last quarter. Arizona State Retirement System raised its position in Amplitude by 14.4% in the 2nd quarter. Arizona State Retirement System now owns 21,037 shares of the company's stock valued at $187,000 after buying an additional 2,642 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Amplitude by 19.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,146 shares of the company's stock valued at $199,000 after buying an additional 3,552 shares during the last quarter. Quantbot Technologies LP raised its position in Amplitude by 21.5% in the 3rd quarter. Quantbot Technologies LP now owns 24,390 shares of the company's stock valued at $219,000 after buying an additional 4,309 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Amplitude in the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds 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.