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

Amplitude, Inc. (NASDAQ:AMPL) saw its share price fall by 4.8% on Friday, trading as low as $11.92 before concluding the day at $11.86. During midday trading, approximately 136,348 shares exchanged hands, representing a significant drop of 69% from the average daily volume of 435,013 shares. The stock had previously closed at $12.46.

Wall Street Analysts Forecast Growth

Recent analyst reports provided fresh insights about Amplitude's prospects. Scotiabank adjusted their price target for Amplitude shares upwards from $10.00 to $12.00, holding a "sector perform" rating as of November 8th. KeyCorp also upgraded the company, moving from a "sector weight" rating to "overweight" and setting a price target of $15.00 on December 13th. On January 13th, Morgan Stanley shifted its assessment from an "underweight" rating to "equal weight," raising the target price from $10.00 to $11.00. Another investment firm, Robert W. Baird, followed suit with a price target increase from $10.00 to $12.00, maintaining a "neutral" rating. Additionally, DA Davidson assigned a "hold" rating in a recent analysis. Currently, six analysts are recommending a hold on the stock while two suggest buying. Data from MarketBeat indicates that Amplitude has an average rating of "Hold" with a consensus price target of $12.43.

Amplitude Stock Performance

Amplitude's stock performance reveals a 50-day moving average price of $11.34 and a 200-day moving average price of $9.89. The company's market capitalization stands at approximately $1.13 billion, with a price-to-earnings ratio of -17.93, coupled with a beta of 1.37.

Insider Transactions at Amplitude

In other news, Amplitude's Director, Eric Vishria, recently sold 3,563 shares of stock on January 28th, averaging a sale price of $12.00. This transaction totaled $42,756. Following the sale, Vishria retains ownership of 276,208 shares valued at around $3,314,496, marking a decrease of 1.27% in his holdings. This sale was recorded in a filing with the Securities & Exchange Commission, which is available to the public. Additionally, 4.80% of the company's stock is owned by insiders.

Institutional Investors Weigh In On Amplitude

Recent activity among institutional investors shows varied strategies regarding Amplitude stock. Barclays PLC expanded its holdings by a remarkable 371.7% in the third quarter, now owning 128,537 shares valued at $1,153,000 after acquiring 101,289 additional shares. M&T Bank Corp similarly raised its stake by 86.8%, possessing 156,688 shares worth $1,405,000 after an increase of 72,806 shares. JPMorgan Chase & Co. grew its position in Amplitude by 38.9%, owning 84,050 shares valued at $754,000 after acquiring 23,526 more shares. Walleye Capital LLC initiated a new stake during the third quarter worth approximately $726,000, while Kera Capital Partners Inc. established a new position in the fourth quarter with an investment of about $1,498,000. Overall, institutional investors own 73.20% of Amplitude's stock.

About Amplitude

Amplitude, Inc. and its subsidiaries offer a digital analytics platform focused on analyzing customer behaviors both in the United States and internationally. Their services include Amplitude Analytics, which provides real-time product data and reconstructs user visits; Amplitude Experiment, allowing teams to test new capabilities and manage feature rollouts; Amplitude CDP, an insight-driven solution for data infrastructure, audience management, and data streaming; and Amplitude Session Replay, enabling product, marketing, and data teams to understand user interactions, identify issues, and enhance product outcomes.

Amplitude, Stocks, Analysts