Geode Capital Management LLC Has $26.77 Million Stock Holdings in Amplitude, Inc. $AMPL

Geode Capital Management LLC raised its holdings in Amplitude, Inc. (NASDAQ:AMPL) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,158,379 shares of the company’s stock after acquiring an additional 148,247 shares during the quarter. Geode Capital Management LLC owned approximately 2.18% of Amplitude worth $26,767,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AMPL. Meros Investment Management LP grew its position in shares of Amplitude by 4,682.9% in the 1st quarter. Meros Investment Management LP now owns 462,314 shares of the company’s stock valued at $4,711,000 after buying an additional 452,648 shares during the last quarter. Nuveen LLC bought a new position in Amplitude during the 1st quarter worth approximately $2,526,000. Cubist Systematic Strategies LLC acquired a new position in shares of Amplitude in the 1st quarter worth approximately $2,120,000. Informed Momentum Co LLC acquired a new position in shares of Amplitude in the 1st quarter worth approximately $1,920,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Amplitude by 60.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 473,491 shares of the company’s stock valued at $4,825,000 after purchasing an additional 177,599 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Spenser Skates sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $10.99, for a total value of $4,396,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Casey purchased 30,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were acquired at an average cost of $9.99 per share, for a total transaction of $299,700.00. Following the completion of the purchase, the chief financial officer directly owned 1,160,608 shares of the company’s stock, valued at approximately $11,594,473.92. This represents a 2.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 430,000 shares of company stock valued at $4,710,100 in the last quarter. Corporate insiders own 23.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AMPL shares. 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. UBS Group raised Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price on shares of Amplitude in a research note on Thursday, November 6th. Robert W. Baird dropped their price target on Amplitude from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Finally, DA Davidson restated a “buy” rating and set a $16.00 price target on shares of Amplitude in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

Amplitude Stock Up 1.5%

NASDAQ AMPL opened at $10.28 on Friday. Amplitude, Inc. has a 12-month low of $7.55 and a 12-month high of $14.88. The firm has a market cap of $1.37 billion, a P/E ratio of -12.84 and a beta of 1.51. The company’s 50 day moving average is $10.31 and its 200-day moving average is $11.43.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Amplitude had a negative net margin of 31.36% and a negative return on equity of 36.27%. The company had revenue of $88.56 million during the quarter, compared to analyst estimates of $86.29 million. During the same period last year, the business earned $0.03 earnings per share. Amplitude’s revenue was up 17.8% compared to the same quarter last year. Equities analysts expect that Amplitude, Inc. will post -0.62 EPS for the current 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.