Matterport (NASDAQ:MTTR) Hits New 52-Week High – Here’s What Happened

Matterport, Inc. (NASDAQ:MTTR) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $5.24 and last traded at $5.24, with a volume of 372540 shares traded. The stock had previously closed at $5.21.

Matterport Stock Performance

The company has a 50 day simple moving average of $4.89 and a two-hundred day simple moving average of $4.63. The firm has a market cap of $1.69 billion, a PE ratio of -6.30 and a beta of 1.05.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share 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 the consensus estimate of $43.91 million. During the same quarter in the prior year, the company earned ($0.04) EPS. Matterport’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that Matterport, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Matterport

In related news, CFO James Daniel Fay sold 119,312 shares of the firm’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 $564,345.76. Following the sale, the chief financial officer now owns 1,690,458 shares in the company, valued at approximately $7,995,866.34. This trade represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jay Remley sold 82,229 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $388,943.17. Following the completion of the transaction, the executive now owns 1,408,626 shares of the company’s stock, valued at approximately $6,662,800.98. This trade represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 645,163 shares of company stock worth $3,051,621 over the last three months. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Matterport

Several institutional investors and hedge funds have recently modified their holdings of MTTR. Synergy Asset Management LLC increased its position in shares of Matterport by 100.0% in the fourth quarter. Synergy Asset Management LLC now owns 32,000 shares of the company’s stock valued at $150,000 after buying an additional 16,000 shares in the last quarter. SG Americas Securities LLC increased its holdings in Matterport by 294.2% in the 4th quarter. SG Americas Securities LLC now owns 183,893 shares of the company’s stock worth $872,000 after acquiring an additional 137,247 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Matterport by 46.6% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 20,526 shares of the company’s stock worth $97,000 after acquiring an additional 6,525 shares during the period. Versant Capital Management Inc purchased a new position in Matterport during the fourth quarter valued at $29,000. Finally, JPMorgan Chase & Co. grew its position in shares of Matterport by 116.3% in the third quarter. JPMorgan Chase & Co. now owns 1,967,215 shares of the company’s stock valued at $8,852,000 after purchasing an additional 1,057,537 shares during the period. Hedge funds and other institutional investors own 36.96% of the company’s stock.

Matterport Company Profile

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.