Summit Trail Advisors LLC Sells 4,762 Shares of Amplitude, Inc. (NASDAQ:AMPL)

Summit Trail Advisors LLC cut its stake in shares of Amplitude, Inc. (NASDAQ:AMPL) by 15.2% in the second quarter, Holdings Channel reports. The fund owned 26,569 shares of the company’s stock after selling 4,762 shares during the period. Summit Trail Advisors LLC’s holdings in Amplitude were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Amplitude by 3.4% during the first quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company’s stock valued at $88,214,000 after acquiring an additional 264,477 shares during the period. Sunriver Management LLC raised its holdings in shares of Amplitude by 28.2% in the fourth quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock valued at $28,529,000 after buying an additional 493,046 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. raised its holdings in shares of Amplitude by 14.3% in the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,515,100 shares of the company’s stock valued at $19,272,000 after buying an additional 190,000 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Amplitude by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 556,755 shares of the company’s stock valued at $7,082,000 after buying an additional 24,899 shares during the last quarter. 73.20% of the stock is owned by institutional investors.

Amplitude Stock Performance

AMPL opened at $8.60 on Wednesday. The firm’s fifty day moving average is $8.53 and its two-hundred day moving average is $9.18. The firm has a market cap of $1.05 billion, a PE ratio of -11.78 and a beta of 1.32. Amplitude, Inc. has a twelve month low of $7.37 and a twelve month high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.18). Amplitude had a negative return on equity of 27.58% and a negative net margin of 28.19%. The company had revenue of $73.30 million for the quarter, compared to analyst estimates of $71.98 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that Amplitude, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMPL shares. Piper Sandler cut their price target on Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, July 12th. UBS Group cut their price objective on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Robert W. Baird reduced their price objective on shares of Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Amplitude currently has an average rating of “Hold” and an average price target of $10.33.

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.