Amplitude (NASDAQ:AMPL) Shares Gap Down – Should You Sell?

Amplitude, Inc. (NASDAQ:AMPL)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $10.81, but opened at $10.58. Amplitude shares last traded at $10.58, with a volume of 843 shares.

Wall Street Analysts Forecast Growth

AMPL has been the subject of several recent analyst reports. Scotiabank increased their price objective on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. UBS Group decreased their target price on Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Piper Sandler raised their price target on Amplitude from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Robert W. Baird increased their target price on Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Amplitude Price Performance

The stock has a 50 day simple moving average of $9.28 and a two-hundred day simple moving average of $8.86.

Insider Transactions at Amplitude

In other news, Director Eric Vishria sold 25,000 shares of Amplitude stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.18, for a total transaction of $254,500.00. Following the completion of the transaction, the director now directly owns 286,208 shares in the company, valued at approximately $2,913,597.44. The trade was a 8.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC bought a new position in shares of Amplitude during the 2nd quarter worth approximately $41,000. Russell Investments Group Ltd. bought a new stake in Amplitude in the 1st quarter valued at $45,000. Principal Financial Group Inc. bought a new stake in Amplitude in the 2nd quarter valued at $92,000. Intech Investment Management LLC bought a new stake in Amplitude in the 3rd quarter valued at $128,000. Finally, XTX Topco Ltd bought a new stake in Amplitude in the 2nd quarter valued at $133,000. 73.20% of the stock is currently owned by institutional investors.

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.