Amplitude, Inc. (NASDAQ:AMPL) Short Interest Update

Amplitude, Inc. (NASDAQ:AMPL) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,990,000 shares, a growth of 73.5% from the May 31st total of 2,300,000 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily trading volume, of 569,300 shares, the days-to-cover ratio is presently 7.0 days.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMPL. Morgan Stanley reduced their price target on shares of Amplitude from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, May 10th. KeyCorp began coverage on shares of Amplitude in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, UBS Group reduced their price target on shares of Amplitude from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.20.

Insider Activity at Amplitude

In related news, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $9.16, for a total value of $32,197.40. Following the transaction, the director now directly owns 82,820 shares in the company, valued at approximately $758,631.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 28.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amplitude

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. boosted its position in Amplitude by 918.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company’s stock valued at $2,111,000 after buying an additional 174,967 shares in the last quarter. Janus Henderson Group PLC boosted its position in Amplitude by 3,607.6% in the first quarter. Janus Henderson Group PLC now owns 859,723 shares of the company’s stock valued at $9,353,000 after buying an additional 836,535 shares in the last quarter. MQS Management LLC acquired a new position in Amplitude in the first quarter valued at about $120,000. Bessemer Group Inc. bought a new position in shares of Amplitude in the first quarter worth about $177,000. Finally, Vanguard Group Inc. raised its stake in shares of Amplitude by 3.4% in the first quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company’s stock worth $88,214,000 after acquiring an additional 264,477 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors and hedge funds.

Amplitude Price Performance

Shares of Amplitude stock traded up $0.02 during trading on Friday, hitting $8.85. 104,890 shares of the company’s stock traded hands, compared to its average volume of 528,838. The firm’s fifty day moving average price is $9.16 and its 200 day moving average price is $11.06. Amplitude has a twelve month low of $8.12 and a twelve month high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Thursday, May 9th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The business had revenue of $72.62 million for the quarter, compared to analyst estimates of $72.25 million. Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.15%. As a group, research analysts expect that Amplitude will post -0.61 EPS for the current fiscal year.

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.