Inspire Investing LLC Reduces Holdings in Amplitude, Inc. $AMPL

Inspire Investing LLC lowered its position in shares of Amplitude, Inc. (NASDAQ:AMPL) by 6.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,390 shares of the company’s stock after selling 2,001 shares during the period. Inspire Investing LLC’s holdings in Amplitude were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMPL. Russell Investments Group Ltd. increased its stake in shares of Amplitude by 33.3% in the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock worth $59,000 after buying an additional 1,455 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Amplitude in the first quarter worth $107,000. Aigen Investment Management LP bought a new stake in shares of Amplitude in the first quarter worth $114,000. Teacher Retirement System of Texas bought a new stake in shares of Amplitude in the first quarter worth $119,000. Finally, Summit Trail Advisors LLC bought a new stake in Amplitude during the first quarter valued at $124,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Amplitude Stock Down 0.5%

AMPL stock opened at $10.10 on Thursday. The company has a market capitalization of $1.03 billion, a P/E ratio of -13.29 and a beta of 1.52. The company has a 50-day simple moving average of $11.12 and a 200 day simple moving average of $11.21. Amplitude, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $14.88.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $83.27 million during the quarter, compared to the consensus estimate of $81.29 million. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The business’s revenue was up 13.6% compared to the same quarter last year. Equities analysts anticipate that Amplitude, Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling

In other Amplitude news, Director Erica Schultz sold 10,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $11.06, for a total value of $110,600.00. Following the sale, the director directly owned 107,406 shares in the company, valued at approximately $1,187,910.36. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on AMPL shares. Piper Sandler boosted their target price on shares of Amplitude from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Needham & Company LLC boosted their target price on shares of Amplitude from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amplitude in a research note on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and set a $16.00 target price on shares of Amplitude in a research note on Monday, September 29th. Finally, Benchmark reissued a “buy” rating on shares of Amplitude in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.20.

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.