PNC Financial Services Group Inc. Has $290,000 Holdings in Amplitude, Inc. (NASDAQ:AMPL)

PNC Financial Services Group Inc. reduced its holdings in Amplitude, Inc. (NASDAQ:AMPL) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,477 shares of the company’s stock after selling 1,095 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Amplitude were worth $290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AMPL. Aquatic Capital Management LLC lifted its holdings in Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after buying an additional 2,647 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Amplitude by 255.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after buying an additional 5,100 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Amplitude by 22.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after buying an additional 1,492 shares in the last quarter. Meros Investment Management LP acquired a new position in Amplitude during the 4th quarter worth $102,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Amplitude during the 1st quarter worth $107,000. 73.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMPL. Bank of America upped their price objective on Amplitude from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, June 16th. Morgan Stanley upped their price objective on Amplitude from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Benchmark reaffirmed a “buy” rating on shares of Amplitude in a report on Friday, July 11th. UBS Group reduced their price objective on Amplitude from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Finally, Piper Sandler increased their price target on Amplitude from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.80.

Amplitude Trading Up 1.0%

NASDAQ:AMPL opened at $11.47 on Friday. Amplitude, Inc. has a 1 year low of $7.55 and a 1 year high of $14.88. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -15.09 and a beta of 1.54. The stock has a 50-day moving average price of $12.27 and a two-hundred day moving average price of $11.55.

Amplitude (NASDAQ:AMPL) last posted its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Amplitude had a negative return on equity of 33.08% and a negative net margin of 30.43%. The firm had revenue of $83.27 million during the quarter, compared to analysts’ expectations of $81.29 million. The firm’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Insider Transactions at Amplitude

In other Amplitude news, Director Catherine Wong sold 8,502 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $106,189.98. Following the completion of the transaction, the director directly owned 79,152 shares of the company’s stock, valued at approximately $988,608.48. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erica Schultz sold 26,394 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total value of $329,661.06. Following the completion of the transaction, the director directly owned 92,500 shares of the company’s stock, valued at approximately $1,155,325. The trade was a 22.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,911 shares of company stock valued at $571,352. Insiders own 23.83% of the company’s stock.

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.