Matterport (NASDAQ:MTTR) Sees Large Volume Increase – Should You Buy?

Matterport, Inc. (NASDAQ:MTTR) saw an uptick in trading volume on Friday . 1,832,062 shares were traded during trading, a decline of 20% from the previous session’s volume of 2,297,235 shares.The stock last traded at $4.72 and had previously closed at $4.96.

Matterport Trading Down 3.6 %

The company has a fifty day moving average price of $4.80 and a 200-day moving average price of $4.56. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -5.76 and a beta of 1.05.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Matterport had a negative net margin of 157.21% and a negative return on equity of 32.19%. The company had revenue of $43.79 million for the quarter, compared to analyst estimates of $43.91 million. During the same quarter in the prior year, the business posted ($0.04) EPS. Matterport’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Matterport, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Matterport

In other Matterport news, CEO Raymond J. Pittman sold 358,607 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total transaction of $1,696,211.11. Following the completion of the transaction, the chief executive officer now owns 4,176,241 shares of the company’s stock, valued at $19,753,619.93. The trade was a 7.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jay Remley sold 82,229 shares of Matterport stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $388,943.17. Following the completion of the transaction, the executive now owns 1,408,626 shares in the company, valued at $6,662,800.98. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 645,163 shares of company stock worth $3,051,621 over the last three months. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Matterport

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTTR. Versant Capital Management Inc bought a new stake in shares of Matterport in the fourth quarter valued at approximately $29,000. Redwood Wealth Management Group LLC acquired a new position in shares of Matterport during the second quarter valued at about $29,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Matterport in the third quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Matterport by 23.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company’s stock worth $63,000 after buying an additional 2,618 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Matterport by 111.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,664 shares of the company’s stock valued at $97,000 after acquiring an additional 11,403 shares during the period. Institutional investors and hedge funds own 36.96% of the company’s stock.

About Matterport

Matterport, Inc, a spatial data company, focuses on digitization and datafication in the United States and internationally. The company offers Matterport Capture Services, a fully managed solution for enterprise subscribers; Matterport Pro3, a 3D camera that scans properties; Matterport Pro2, a 3D camera that captures spaces; LEICA BLK360, a device to create digital twins; Smartphone Capture, a smartphone capture solution for both iOS and Android; and 360 Cameras.