Connor Clark & Lunn Investment Management Ltd. Takes Position in Amplitude, Inc. (NASDAQ:AMPL)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Amplitude, Inc. (NASDAQ:AMPL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,845 shares of the company's stock, valued at approximately $252,000.

A number of other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in shares of Amplitude by 17.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,572 shares of the company's stock valued at $312,000 after buying an additional 4,451 shares in the last quarter. M&T Bank Corp raised its position in Amplitude by 16.6% during the fourth quarter. M&T Bank Corp now owns 182,712 shares of the company's stock valued at $1,927,000 after purchasing an additional 26,024 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amplitude by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 683,405 shares of the company's stock worth $7,210,000 after purchasing an additional 31,800 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Amplitude by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 955,293 shares of the company's stock worth $10,078,000 after purchasing an additional 15,239 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Amplitude by 79.7% in the 4th quarter. New York State Common Retirement Fund now owns 23,680 shares of the company's stock worth $250,000 after buying an additional 10,500 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors.

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Amplitude Stock Down 5.1 %

Shares of AMPL traded down $0.59 during mid-day trading on Thursday, hitting $10.92. 701,304 shares of the company's stock traded hands, compared to its average volume of 551,636. The firm has a market capitalization of $1.41 billion, a P/E ratio of -14.18 and a beta of 1.35. The business's 50-day moving average price is $12.08 and its 200-day moving average price is $10.66. Amplitude, Inc. has a 1 year low of $7.37 and a 1 year high of $14.88.

Amplitude (NASDAQ:AMPL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) 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 company had revenue of $78.13 million for the quarter, compared to analysts' expectations of $76.68 million. Sell-side analysts anticipate that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on AMPL. Needham & Company LLC reissued a "buy" rating and set a $16.00 price target on shares of Amplitude in a research note on Tuesday, March 11th. Bank of America lifted their target price on shares of Amplitude from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. KeyCorp upgraded shares of Amplitude from a "sector weight" rating to an "overweight" rating and set a $15.00 price target for the company in a research report on Friday, December 13th. Morgan Stanley raised their price target on Amplitude from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Finally, DA Davidson reiterated a "buy" rating and issued a $16.00 price objective on shares of Amplitude in a research report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 3,563 shares of Amplitude stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total transaction of $42,756.00. Following the sale, the director now directly owns 276,208 shares in the company, valued at $3,314,496. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Amplitude 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.