Brazilian Billionaire Jorge Paulo Lemann Has Lost Faith in These 5 Tech Stocks

4. Amplitude, Inc. (NASDAQ:AMPL)

Former Value of 3G Capital‘s 13F Position: $15.9 million

Number of Hedge Fund Shareholders (as of March 31): 23

3G Capital built a new stake in Amplitude, Inc. (NASDAQ:AMPL) during Q4, buying an even 300,000 shares of the SaaS provider. Hedge fund ownership of AMPL ticked up during Q1 despite 3G Capital making a quick exit from the stock, as it sold off all 300,000 of its shares.

Amplitude, Inc. (NASDAQ:AMPL) is making several upgrades and additions to its cloud-based digital products optimization service. The company recently unveiled a new customer data platform that will become available in the current quarter and which integrates directly with its analytics service.

Amplitude, Inc. (NASDAQ:AMPL) has grown its customer count to 1,701 as of the first quarter of this year, a 33% increase from three quarters earlier. Revenue is growing even faster thanks in part to a solidly rising net revenue retention rate, with that marker hitting 126% in Q1, up from 119% in Q2 2021. Revenue for the latest reported quarter grew by 60% year-over-year to $53.1 million.