Amplitude (NASDAQ:AMPL) Shares Down 4.8% - Here's What Happened

Amplitude, Inc. (NASDAQ:AMPL) experienced a drop in its share price of 4.8% on Friday. The stock reached a low of $11.92 before closing the trading session at $11.86. A total of approximately 136,348 shares exchanged hands, which is a significant decline of 69% compared to the average daily trading volume of 435,013 shares. The previous closing price was $12.46.

Wall Street Analysts Forecast Growth

Several analysts are closely monitoring Amplitude's stock performance. Scotiabank recently adjusted its price target for Amplitude, increasing it from $10.00 to $12.00 while affirming a 'sector perform' rating on November 8th. KeyCorp raised its rating from 'sector weight' to 'overweight' and set a price target of $15.00 in a note issued on December 13th. Similarly, Morgan Stanley upgraded its stance from 'underweight' to 'equal weight', raising the price target from $10.00 to $11.00 on January 13th. Robert W. Baird also increased its target to $12.00 and maintained a 'neutral' rating. Overall, six investment analysts have assigned a 'hold' rating, while two have given it a 'buy' recommendation, resulting in a consensus rating of 'Hold' and an average price target of $12.43, according to data from MarketBeat.

Amplitude Stock Performance

Currently, Amplitude’s 50-day moving average price stands at $11.34, and its 200-day moving average price is $9.89. The company has a market capitalization of $1.13 billion, with a price-to-earnings ratio of -17.93 and a beta of 1.37, indicating its volatility relative to the overall market.

Insider Transactions at Amplitude

In recent insider activities, Director Eric Vishria sold 3,563 shares on January 28th at an average price of $12.00, totaling $42,756. Following this transaction, Vishria now holds 276,208 shares valued at approximately $3.31 million, reflecting a 1.27% decrease in their ownership position. Insider ownership accounts for about 4.80% of the company's total stocks.

Institutional Investors Weigh In On Amplitude

In the institutional investment sphere, several hedge funds have adjusted their positions in Amplitude. Notably, Barclays PLC increased its holdings by 371.7% in the third quarter, acquiring an additional 101,289 shares, bringing its total to 128,537 shares valued at $1.15 million. M&T Bank Corp also raised its stake by 86.8%, now holding 156,688 shares worth $1.41 million. JPMorgan Chase & Co. boosted its holdings by 38.9%, owning 84,050 shares valued at $754,000. Other firms such as Walleye Capital LLC and Kera Capital Partners Inc. also entered into new stakes in the company. Institutional investors collectively own 73.20% of Amplitude's shares.

About Amplitude

Amplitude, Inc. provides a digital analytics platform designed to analyze customer behavior both in the United States and internationally. The company offers various solutions, including Amplitude Analytics for real-time product data, Amplitude Experiment for testing new features, and Amplitude CDP for data infrastructure and audience management. Their tools are utilized by product, marketing, and data teams to gain insights into user behavior, resolve product issues, and enhance product outcomes.

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