Parallel Advisors LLC Acquires 4,528 Shares of Amplitude, Inc. $AMPL

Parallel Advisors LLC grew its position in Amplitude, Inc. (NASDAQ:AMPL) by 13.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,097 shares of the company’s stock after purchasing an additional 4,528 shares during the quarter. Parallel Advisors LLC’s holdings in Amplitude were worth $485,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings 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 valued at $59,000 after purchasing an additional 1,455 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Amplitude by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,399 shares of the company’s stock valued at $473,000 after acquiring an additional 2,038 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Amplitude by 16.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,989 shares of the company’s stock valued at $306,000 after purchasing an additional 4,301 shares during the last quarter. Stanley Laman Group Ltd. lifted its position in Amplitude by 10.1% during the first quarter. Stanley Laman Group Ltd. now owns 47,692 shares of the company’s stock valued at $486,000 after purchasing an additional 4,387 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Amplitude by 3.0% during the first quarter. Swiss National Bank now owns 155,800 shares of the company’s stock worth $1,588,000 after acquiring an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

Wall Street Analyst Weigh In

AMPL has been the topic of several analyst reports. Needham & Company LLC lifted their target price on shares of Amplitude from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. 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 report on Thursday, August 7th. Benchmark reiterated a “buy” rating on shares of Amplitude in a research note on Friday, July 11th. Bank of America boosted their target price on Amplitude from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. Finally, Wall Street Zen lowered shares of Amplitude from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.80.

Insider Activity at Amplitude

In related news, Director Erica Schultz sold 10,000 shares of Amplitude stock in a transaction on Monday, September 15th. The stock was sold at an average price of $11.06, for a total transaction of $110,600.00. Following the completion of the transaction, the director directly owned 107,406 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 25,000 shares of company stock valued at $290,750. 23.83% of the stock is owned by company insiders.

Amplitude Price Performance

Amplitude stock opened at $12.07 on Friday. The business has a 50 day simple moving average of $11.77 and a 200-day simple moving average of $11.35. The stock has a market capitalization of $1.23 billion, a PE ratio of -15.88 and a beta of 1.54. Amplitude, Inc. has a 12 month low of $7.55 and a 12 month high of $14.88.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Amplitude had a negative return on equity of 33.08% and a negative net margin of 30.43%.The business had revenue of $83.27 million for the quarter, compared to analyst estimates of $81.29 million. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities research analysts anticipate that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

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.