Renaissance Technologies LLC Increases Stock Position in Amplitude, Inc. (NASDAQ:AMPL)

Renaissance Technologies LLC raised its stake in Amplitude, Inc. (NASDAQ:AMPL) by 19.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 413,100 shares of the company’s stock after purchasing an additional 67,500 shares during the period. Renaissance Technologies LLC’s holdings in Amplitude were worth $3,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in AMPL. Vanguard Group Inc. grew its stake in Amplitude by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 7,843,411 shares of the company’s stock worth $99,768,000 after buying an additional 105,616 shares during the last quarter. Sunriver Management LLC grew its position in shares of Amplitude by 28.2% during the fourth quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock worth $28,529,000 after acquiring an additional 493,046 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Amplitude by 918.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company’s stock valued at $2,111,000 after acquiring an additional 174,967 shares during the period. Bessemer Group Inc. acquired a new position in shares of Amplitude in the 1st quarter valued at $177,000. Finally, Inspire Investing LLC purchased a new stake in Amplitude in the 1st quarter valued at $358,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Analyst Ratings Changes

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

Amplitude Stock Up 1.4 %

Shares of Amplitude stock opened at $8.95 on Monday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -12.26 and a beta of 1.32. Amplitude, Inc. has a 52-week low of $7.37 and a 52-week high of $14.42. The company’s 50-day simple moving average is $8.57 and its 200-day simple moving average is $9.13.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share (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 business had revenue of $73.30 million for the quarter, compared to analysts’ expectations of $71.98 million. During the same period last year, the company posted ($0.17) earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts anticipate that Amplitude, Inc. will post -0.65 EPS for the current year.

Amplitude 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.