Amplitude, Inc. (NASDAQ:AMPL) Sees Large Growth in Short Interest

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 3,150,000 shares, a growth of 60.7% from the February 28th total of 1,960,000 shares. Based on an average trading volume of 770,700 shares, the short-interest ratio is currently 4.1 days. Currently, 4.1% of the shares of the stock are short sold.

Insider Activity

In related news, Director Eric Vishria sold 35,000 shares of Amplitude stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the sale, the director now owns 286,859 shares of the company's stock, valued at approximately $3,671,795.20. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 buying an additional 447,277 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Amplitude by 9.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock worth $94,911,000 after purchasing an additional 770,227 shares in the last quarter. FMR LLC increased its holdings in Amplitude by 0.8% during the 3rd quarter. FMR LLC now owns 8,056,003 shares of the company's stock worth $72,262,000 after purchasing an additional 64,574 shares during the period. Sunriver Management LLC raised its holdings in shares of Amplitude by 24.3% in the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company's stock valued at $39,803,000 after acquiring an additional 737,600 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Amplitude by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company's stock worth $20,636,000 after purchasing an additional 52,033 shares during the period. 73.20% of the stock is currently owned by institutional investors.

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Amplitude Price Performance

Shares of AMPL traded up $0.07 during midday trading on Wednesday, hitting $10.40. The stock had a trading volume of 239,196 shares, compared to its average volume of 588,157. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.88. The stock's 50 day moving average is $12.04 and its 200 day moving average is $10.72. The firm has a market cap of $1.35 billion, a PE ratio of -13.53 and a beta of 1.35.

Amplitude (NASDAQ:AMPL - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.26) 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 business had revenue of $78.13 million for the quarter, compared to the consensus estimate of $76.68 million. As a group, equities research analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMPL has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Amplitude from $11.00 to $13.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price target on shares of Amplitude in a report on Tuesday, March 11th. Robert W. Baird raised shares of Amplitude from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $12.00 to $17.00 in a report on Thursday, February 20th. KeyCorp raised 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. Finally, Bank of America boosted their target price on Amplitude from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $15.00.

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.