Chief Technology Officer Liu Curtis of Amplitude, Inc. sold 33,201 shares of the company’s Class A Common Stock on March 6, 2026, according to a Form 4 filed with the Securities and Exchange Commission.
The block of stock generated proceeds of $265,840 across multiple trades executed at prices between $8.00 and $8.04 per share. Following the disposition, Curtis is reported to directly hold 603,756 shares of Amplitude Class A Common Stock, a total that includes 568,585 restricted stock units.
At the time of the filing, Amplitude’s shares had fallen 31% over the prior six months and were trading at $7.71, which is below the prices at which Curtis sold. An InvestingPro analysis cited with the filing indicates Amplitude appears undervalued at current levels, with a Fair Value assessment implying potential upside for investors.
The Form 4 notes the disposition was carried out pursuant to a pre-arranged 10b5-1 trading plan that Curtis adopted on November 26, 2025. The filing was signed by Elizabeth Fisher, acting as attorney in fact for Liu Curtis, on March 10, 2026.
Company performance and analyst activity
Amplitude reported fourth-quarter fiscal 2025 revenue that exceeded expectations, reflecting continued traction among enterprise customers and improved upselling and cross-selling momentum, the company said. For fiscal 2026, Amplitude projected revenue growth of 15% year-over-year, above the 14% consensus estimate.
On the analyst front, Morgan Stanley upgraded Amplitude to an Overweight rating and raised its price target to $16.00, citing potential upside from generative AI applications in mobile and web environments. By contrast, DA Davidson, Piper Sandler, and KeyBanc each reduced their price targets for the company, citing concerns such as valuation resets, software sector weakness, and margin pressures. Despite trimming targets, DA Davidson and Piper Sandler retained Buy and Overweight ratings, respectively, while KeyBanc kept an Overweight rating and highlighted that Amplitude has accelerated annual recurring revenue growth for six consecutive quarters.
Leadership update
Amplitude also disclosed that President Thomas Hansen will step down in March 2026. Hansen will remain with the company in an advisory capacity through April 2027. The company stated that his departure is not the result of any disagreement with Amplitude’s operations or policies.
Summary
An insider sale executed under a standing 10b5-1 plan, current share pricing below the sale levels, analyst rating changes, and an upward revenue guidance for fiscal 2026 together paint a mixed near-term picture for Amplitude’s stock. The Form 4 and associated filings provide the primary record of the transaction and related details.
Key points
- Liu Curtis sold 33,201 Class A shares on March 6, 2026, for total proceeds of $265,840 at $8.00 to $8.04 per share.
- After the sale Curtis holds 603,756 Class A shares, which include 568,585 restricted stock units; the disposition was made under a 10b5-1 plan adopted November 26, 2025, and the Form 4 was signed March 10, 2026.
- Amplitude reported fiscal Q4 2025 revenue above expectations and issued fiscal 2026 revenue guidance of 15% growth, ahead of a 14% consensus; analyst actions were mixed with Morgan Stanley upgrading to Overweight and others trimming targets but maintaining positive ratings.
Risks and uncertainties
- Share price weakness - the company’s stock declined 31% over six months and was trading at $7.71, below the sale prices, which may affect investor sentiment in the software sector.
- Analyst target reductions - several firms cut price targets citing valuation, sector weakness, and margin concerns, introducing uncertainty around near-term valuation.
- Leadership transition - the planned departure of the company’s president may create short-term operational or execution risk despite the company’s statement that the exit is not due to disagreement.