Amplitude, Inc. (NASDAQ:AMPL) experienced a notable decrease in short interest during the month of August, according to recent reports. As of August 31st, the total short interest for Amplitude stood at 1,540,000 shares, representing a decline of 7.8% from the previous total on August 15th which was recorded at 1,670,000 shares. The days-to-cover ratio currently stands at 3.0 days based on an average daily trading volume of 508,100 shares, indicating a slight improvement in market sentiment towards the company. Presently, approximately 2.6% of Amplitude’s outstanding shares are being sold short.
On September 19th, the stock opened at $11.63 per share. With a market capitalization of $1.37 billion and a negative price-to-earnings (P/E) ratio of -13.22, Amplitude exhibits some interesting financial characteristics. The company also demonstrates a beta value of 1.42, suggesting it is more volatile compared to the overall stock market trend. Furthermore, its fifty-day moving average rests at $11.62, while the two-hundred-day moving average stands at $11.30.
Several institutional investors and hedge funds have been adjusting their positions in Amplitude recently as well. Dark Forest Capital Management LP bought new shares worth roughly $27,000 during the first quarter followed by US Bancorp DE’s purchase of about $28k worth of Amplitude stock around the same time frame. Lazard Asset Management LLC acquired approximately $30k stake in the fourth quarter last year while Russell Investments Group Ltd.’s investment arm purchased around $40k worth of shares in the second quarter this year.
Moreover, Ameritas Investment Partners Inc., which has seen its position in Amplitude grow by 33.4% during the second quarter through an additional purchase of 1,399 shares, now holds 5,593 shares of the company’s stock valued at $62,000. Institutional investors collectively own 45.14% of Amplitude’s outstanding shares.
A number of analysts have also weighed in on the stock. Piper Sandler raised their price objective from $9.00 to $10.00 and assigned a “neutral” rating to Amplitude in a report released on Thursday, August 10th. Similarly, Morgan Stanley revised their target price for Amplitude from $12.00 to $13.00 and maintained an “equal weight” rating in a report published on Friday, August 11th. Finally, Citigroup adjusted their target price for the stock from $12.00 to $13.00 in a report issued on Wednesday, August 9th.
Ultimately, seven investment analysts have rated the stock as a hold while only one has issued a buy rating for Amplitude. According to Bloomberg data, the company currently has an average rating of “Hold” with a consensus price target of $14.00.
As trends regarding short interest and analyst opinions continue to evolve, investors will closely monitor Amplitude’s performance and analyze these factors to make informed decisions about their involvement with the company moving forward.
Bunge Limited
BG
Strong Buy
Updated on: 29/09/2023
Very Healthy 
Amplitude Reports Mixed Results and Faces Financial Challenges, With Investors Reacting and Insiders Selling Shares
Amplitude (NASDAQ:AMPL) recently released its quarterly earnings report for the period ending on August 8th. The company reported earnings per share of $0.02, meeting the consensus estimate of $0.02. During this quarter, Amplitude generated a revenue of $67.77 million, slightly surpassing the estimated revenue of $66.90 million. These results indicate a positive trend for the company as compared to the same quarter last year, with a 16.6% increase in quarterly revenue.
Despite this positive news, Amplitude continues to experience challenges in its financial performance. The firm’s net margin remained negative at 38.55%, and its return on equity was also negative at 31.01%. These figures suggest that Amplitude is currently grappling with profitability concerns.
Sell-side analysts predict that Amplitude will post an EPS (earnings per share) of -0.66 for the current fiscal year, highlighting potential ongoing difficulties for the company’s financial health.
Institutional investors and hedge funds have recently made changes to their positions within Amplitude stock. Dark Forest Capital Management LP purchased a new stake in the company during the first quarter, investing approximately $27,000. Similarly, US Bancorp DE acquired a new stake valued at around $28,000 during the same period.
Lazard Asset Management LLC also bought additional shares worth approximately $30,000 in Amplitude during the fourth quarter last year. Additionally, Russell Investments Group Ltd invested about $40,000 in acquiring shares during the second quarter this year.
Moreover, Ameritas Investment Partners Inc increased its position in Amplitude by 33.4% during the same period and now owns 5,593 shares of the company’s stock valued at $62,000 after purchasing an additional 1,399 shares.
It is crucial to note that institutional investors currently hold around 45.14% of Amplitude’s stock, indicating a level of confidence in the company’s long-term prospects.
Shifting focus to recent insider activities, Director Catherine Wong sold 3,515 shares of Amplitude stock on Thursday, August 17th. The average selling price was $11.23 per share, resulting in a total sale value of $39,473.45. Following this transaction, the director now directly owns 93,365 shares in Amplitude with an estimated value of $1,048,488.95.
On July 5th, major shareholder Dharmesh Thakker also sold 63,515 shares at an average price of $10.84 per share for a total value of $688,502.60. These sales were made public through documents filed with the Securities & Exchange Commission (SEC), which are available for review on the SEC website.
These recent insider transactions reveal that approximately 28.71% of Amplitude’s stock is owned by insiders.
In conclusion, Amplitude’s latest earnings report indicates mixed results for the company. While it managed to meet expectations on earnings per share and exceeded revenue estimates for this quarter compared to last year’s figures, it continues to face challenges such as negative net margin and return on equity.
Investors have responded by making various changes to their positions and institutional investors hold a significant stake in Amplitude’s stock.
Additionally, recent insider activities involving Director Catherine Wong and major shareholder Dharmesh Thakker further demonstrate the dynamics within the company.
As we move forward into the rest of the fiscal year and beyond, it will be interesting to see how Amplitude addresses its financial concerns and navigates through these complex market conditions.
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