Amplitude CTO Curtis Liu Sells $182,878 in Stock on 16 June
4h ago|4 min readStandard
Fazen Markets Editorial Desk
Collective editorial team · methodology
amplitudeinsider-trading
Fazen Markets Editorial Desk
Collective editorial team · methodology
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CTO Curtis Liu of software analytics firm Amplitude sold shares worth $182,878 on 16 June 2026. The transaction, disclosed in a regulatory filing, occurred via an automated 10b5-1 trading plan. The sale price averaged $13.55 per share, reducing Liu's direct holdings by 13,500 shares. The stock closed at $13.72 on the day of the filing, giving Amplitude a market capitalization just above $1.7 billion.
The sale follows a 30% rally in Amplitude shares year-to-date, significantly outperforming the tech-heavy Nasdaq Composite's 8% gain. This rally has pushed the stock to its highest level since October 2025, reigniting scrutiny of insider selling patterns. The last CTO sale of similar scale occurred on 15 November 2025, when Liu divested $207,541 worth of shares at an average price of $11.02. The current macro backdrop features elevated interest rates, with the 10-year Treasury yield above 4.2%, pressuring growth-dependent software valuations. The trigger for the sale appears linked to a scheduled vesting event under the company's long-term incentive plan, a common catalyst for pre-planned insider transactions.
Software sector sentiment has been uneven, with investors rewarding profitability over pure growth. Amplitude achieved its first quarter of non-GAAP profitability in Q1 2026, a milestone that supported its recent share appreciation. The company's focus on product-led growth and digital optimization tools has found steady demand despite tighter enterprise IT budgets. The sale by a key technical founder provides a tangible data point on executive confidence following this price recovery. It coincides with increased volatility in the BVP Nasdaq Emerging Cloud Index, which tracks public SaaS companies.
The 13,500 shares sold represent approximately 9% of Curtis Liu's total reported direct holdings following the transaction. The $182,878 proceeds equate to roughly 0.011% of Amplitude's total market capitalization. The sale price of $13.55 sits 1.2% below the day's closing price of $13.72. Amplitude's stock is trading 65% below its all-time high of $39.16, reached shortly after its September 2021 direct listing.
| Metric | Value | Comparison / Context |
|---|---|---|
| Sale Proceeds | $182,878 | ~280x median US weekly earnings |
| Shares Sold | 13,500 | ~0.04% of total shares outstanding |
| YTD Performance | +30% | vs. Nasdaq Composite +8% |
| Post-Sale Holdings | ~136,000 shares | Value ~$1.87 million at close |
The company's price-to-sales ratio stands at 4.2x, below the sector median of 5.8x for application software firms. Annual recurring revenue growth has decelerated to 12% year-over-year as of Q1 2026, down from over 40% in 2022. The stock's 50-day moving average is $12.44, providing a technical support level 9% below the sale price.
Insider sales at key technical inflection points can signal a belief that near-term valuation upside is limited. This specific sale may prompt portfolio managers to review positions in comparable mid-cap SaaS names like HUBS, APPN, and FRSH. A rotation out of recently rallied, lower-growth SaaS stocks into higher-growth or more profitable peers could materialize, impacting sector ETFs like CLOU and WCLD. The sale's modest size suggests it is more related to personal financial planning than a fundamental bearish call, a critical nuance for investors.
A counter-argument is that 10b5-1 plan sales are scheduled and non-discretionary, insulating them from short-term market views. However, executives set plan parameters, and the decision to maintain a selling plan during a rally carries informational weight. Flow data indicates hedge funds have been net sellers of software shares over the past month, while long-only institutional buyers have provided support. The sale adds a data point for quantitative models tracking insider sentiment, which have shown a mild negative correlation with 90-day forward returns in the tech sector.
The primary catalyst is Amplitude's Q2 2026 earnings report, expected in late July. Guidance on net revenue retention rates and operating margin will be scrutinized more heavily following this insider transaction. The next FOMC meeting on 29 July will impact the discount rates applied to all growth stocks, including Amplitude. A key technical level to watch is the $12.50 support zone, a confluence of the 50-day moving average and the early May breakout point.
A breach below $12.50 on elevated volume could signal a retreat to the $11.00 level, last seen in April. Conversely, a hold above $13.00 and a strong earnings beat could invalidate concerns from the sale. Investors will monitor SEC filings for any subsequent insider transactions from CEO Spenser Skates or other board members in the coming weeks, as clustered selling carries more weight than a single event.
Not necessarily. A 10b5-1 plan allows insiders to schedule pre-planned trades to avoid accusations of trading on non-public information. Executives adopt these plans for routine diversification and liquidity. However, the decision not to modify or cancel a plan during a significant price rally can be interpreted as a tacit endorsement of current valuation levels, suggesting limited near-term upside.
The magnitude is relatively small. For scale, Datadog's CTO sold over $5 million in stock in February 2026 following a strong earnings report. Snowflake's CTO executed sales exceeding $15 million in January. Amplitude's sale is more aligned with routine portfolio rebalancing seen at smaller-cap firms. The key difference is Amplitude's recent 30% rally, which places the sale timing under greater market microscope than similar-sized transactions during flat periods.
Following the four prior reported sales by CTO Curtis Liu since 2023, Amplitude's stock showed mixed performance over the subsequent 90 days. Two events were followed by declines averaging 15%, while two preceded gains averaging 8%. The sample size is too small for statistical significance. The more predictive metric is clustered selling across multiple executives, which has not occurred at Amplitude since its direct listing.
The CTO's scheduled sale is a routine financial event that gains relevance due to Amplitude's sharp recent rally and the fragile sentiment in software equities.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. CFD trading carries high risk of capital loss.
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