PNC Financial Services Group Inc. Sells 8,357 Shares of Amplitude, Inc. $AMPL

PNC Financial Services Group Inc. decreased its position in Amplitude, Inc. (NASDAQ:AMPL) by 29.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,120 shares of the company’s stock after selling 8,357 shares during the period. PNC Financial Services Group Inc.’s holdings in Amplitude were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jupiter Asset Management Ltd. bought a new stake in Amplitude during the 2nd quarter valued at approximately $428,000. ProShare Advisors LLC increased its holdings in shares of Amplitude by 5.6% in the 2nd quarter. ProShare Advisors LLC now owns 17,865 shares of the company’s stock worth $222,000 after purchasing an additional 955 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Amplitude by 53.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 236,858 shares of the company’s stock worth $2,937,000 after buying an additional 82,070 shares during the last quarter. Savant Capital LLC lifted its position in Amplitude by 17.7% during the second quarter. Savant Capital LLC now owns 180,153 shares of the company’s stock valued at $2,234,000 after purchasing an additional 27,087 shares during the period. Finally, Bank of Montreal Can purchased a new position in shares of Amplitude in the 2nd quarter worth $1,351,000. Institutional investors own 73.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AMPL. Piper Sandler reiterated an “overweight” rating and set a $16.00 target price on shares of Amplitude in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Amplitude in a report on Wednesday, October 8th. Robert W. Baird reduced their price target on shares of Amplitude from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. DA Davidson restated a “buy” rating and set a $16.00 price objective on shares of Amplitude in a research report on Monday, September 29th. Finally, UBS Group raised shares of Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.40.

Insider Buying and Selling at Amplitude

In related news, CEO Spenser Skates sold 400,000 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $10.99, for a total transaction of $4,396,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Erica Schultz sold 10,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $10.23, for a total value of $102,300.00. Following the completion of the sale, the director directly owned 107,406 shares in the company, valued at $1,098,763.38. This represents a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 430,000 shares of company stock valued at $4,710,100 over the last quarter. 23.83% of the stock is owned by company insiders.

Amplitude Price Performance

NASDAQ:AMPL opened at $10.12 on Thursday. The firm has a market capitalization of $1.35 billion, a P/E ratio of -12.65 and a beta of 1.51. The company’s fifty day moving average price is $10.38 and its 200-day moving average price is $11.45. Amplitude, Inc. has a 1-year low of $7.55 and a 1-year high of $14.88.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $88.56 million for the quarter, compared to the consensus estimate of $86.29 million. Amplitude had a negative net margin of 31.36% and a negative return on equity of 36.27%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. Amplitude has set its FY 2025 guidance at 0.060-0.08 EPS. Q4 2025 guidance at 0.040-0.05 EPS. Equities analysts anticipate that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Amplitude Company Profile

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.