Matterport (NASDAQ:MTTR) Sets New 12-Month High – Here’s What Happened

Matterport, Inc. (NASDAQ:MTTR)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $5.03 and last traded at $5.03, with a volume of 1446696 shares trading hands. The stock had previously closed at $4.83.

Matterport Price Performance

The stock’s 50 day moving average price is $4.83 and its two-hundred day moving average price is $4.58. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -6.19 and a beta of 1.05.

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

Insider Activity at Matterport

In related news, CTO Japjit Tulsi sold 85,015 shares of the company’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 $402,120.95. Following the completion of the transaction, the chief technology officer now directly owns 608,744 shares in the company, valued at $2,879,359.12. This represents a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Raymond J. Pittman sold 358,607 shares of the 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 sale, the chief executive officer now directly owns 4,176,241 shares of the company’s stock, valued at approximately $19,753,619.93. This trade represents a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 645,163 shares of company stock worth $3,051,621 in the last 90 days. 17.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matterport

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in shares of Matterport during the 4th quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new stake in Matterport during the third quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake 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. Vanguard Personalized Indexing Management LLC increased its holdings in Matterport by 111.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,664 shares of the company’s stock valued at $97,000 after buying an additional 11,403 shares during the period. Finally, Simplicity Wealth LLC acquired a new position in shares of Matterport in the 3rd quarter valued at $120,000. 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.