Amplitude, Inc. (NASDAQ:AMPL) Short Interest Up 23.8% in January

Amplitude, Inc. (NASDAQ:AMPL) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,870,000 shares, an increase of 23.8% from the January 15th total of 1,510,000 shares. Based on an average trading volume of 437,000 shares, the short-interest ratio is presently 4.3 days. Approximately 2.5% of the company’s shares are sold short.

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 3,563 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total transaction of $42,756.00. Following the completion of the sale, the director now directly owns 276,208 shares in the company, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Amplitude

A number of hedge funds have recently made changes to their positions in AMPL. Barclays PLC lifted its stake in 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. M&T Bank Corp lifted 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Amplitude by 38.9% in the third quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock worth $754,000 after buying an additional 23,526 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Amplitude in the third quarter worth approximately $726,000. Finally, Kera Capital Partners Inc. bought a new position in shares of Amplitude in the fourth quarter worth approximately $1,498,000. 73.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. DA Davidson upgraded Amplitude to a “hold” rating in a report on Monday. Scotiabank increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $11.00 to $15.00 in a research report on Monday, January 6th. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $10.00 to $11.00 in a research report on Monday, January 13th. Finally, Robert W. Baird increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Amplitude currently has an average rating of “Hold” and a consensus target price of $12.43.

Amplitude Stock Down 4.8 %

Shares of NASDAQ AMPL traded down $0.60 during mid-day trading on Friday, reaching $11.86. 149,340 shares of the company were exchanged, compared to its average volume of 435,013. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.40. The stock has a market capitalization of $1.12 billion, a PE ratio of -17.70 and a beta of 1.37. The company’s 50 day moving average price is $11.34 and its 200 day moving average price is $9.89.

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.