Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Grows By 23.8%

Amplitude, Inc. (NASDAQ:AMPL) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,870,000 shares, an increase of 23.8% from the January 15th total of 1,510,000 shares. Based on an average daily volume of 437,000 shares, the days-to-cover ratio is presently 4.3 days. Approximately 2.5% of the company’s shares are sold short.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Eric Vishria sold 6,437 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.02, for a total value of $77,372.74. Following the sale, the director now owns 279,771 shares of the company’s stock, valued at $3,362,847.42. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Amplitude by 371.7% in the third quarter. Barclays PLC now owns 128,537 shares of the company’s stock valued at $1,153,000 after purchasing an additional 101,289 shares during the last quarter. M&T Bank Corp increased its stake in Amplitude by 86.8% during the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock worth $1,405,000 after buying an additional 72,806 shares during the period. JPMorgan Chase & Co. grew its holdings in Amplitude by 38.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock worth $754,000 after acquiring an additional 23,526 shares in the last quarter. Walleye Capital LLC acquired a new position in Amplitude during the 3rd quarter worth $726,000. Finally, Kera Capital Partners Inc. acquired a new position in Amplitude during the 4th quarter worth $1,498,000. 73.20% of the stock is owned by hedge funds and other institutional investors.

Amplitude Price Performance

Shares of NASDAQ:AMPL traded down $0.42 on Friday, reaching $12.04. The company’s stock had a trading volume of 688,654 shares, compared to its average volume of 457,973. The stock’s 50-day moving average is $11.36 and its two-hundred day moving average is $9.92. Amplitude has a 52-week low of $7.37 and a 52-week high of $14.40.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley raised Amplitude from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $10.00 to $11.00 in a research report on Monday, January 13th. Piper Sandler upgraded shares of Amplitude from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $11.00 to $15.00 in a research note on Monday, January 6th. Robert W. Baird boosted their price target on shares of Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research note on Friday, December 13th. Finally, Scotiabank boosted their price target on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.43.

About Amplitude

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.