Toronado Partners LLC Makes New Investment in Amplitude, Inc. $AMPL

Toronado Partners LLC bought a new stake in shares of Amplitude, Inc. (NASDAQ:AMPL) in the second quarter, HoldingsChannel reports. The institutional investor bought 288,488 shares of the company’s stock, valued at approximately $3,577,000. Amplitude accounts for approximately 2.5% of Toronado Partners LLC’s portfolio, making the stock its 10th largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMPL. Russell Investments Group Ltd. increased its stake in shares of Amplitude by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock valued at $59,000 after buying an additional 1,455 shares during the period. Aigen Investment Management LP bought a new position in Amplitude during the 1st quarter worth about $114,000. Caxton Associates LLP bought a new position in Amplitude during the 1st quarter worth about $131,000. Prudential Financial Inc. purchased a new position in Amplitude during the 2nd quarter valued at about $132,000. Finally, Headlands Technologies LLC raised its holdings in shares of Amplitude by 260.7% in the 1st quarter. Headlands Technologies LLC now owns 13,017 shares of the company’s stock valued at $133,000 after purchasing an additional 9,408 shares in the last quarter. Institutional investors own 73.20% of the company’s stock.

Amplitude Trading Up 1.5%

Shares of AMPL stock 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 business’s fifty day simple moving average is $10.31 and its 200-day simple moving average is $11.43. The company has a market cap of $1.37 billion, a PE ratio of -12.84 and a beta of 1.51.

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

Insiders Place Their Bets

In related news, CFO Andrew Casey bought 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $9.99 per share, for a total transaction of $299,700.00. Following 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 trade represents a 2.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $4,396,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 430,000 shares of company stock valued at $4,710,100. 23.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMPL. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amplitude in a research note on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price on shares of Amplitude in a research report on Thursday, November 6th. DA Davidson reissued a “buy” rating and issued a $16.00 price target on shares of Amplitude in a research report on Monday, September 29th. UBS Group upgraded Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Friday, October 31st. Finally, Robert W. Baird dropped their price objective on Amplitude from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Amplitude has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

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.