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

Matterport, Inc. (NASDAQ:MTTR)’s share price hit a new 52-week high on Monday . The company traded as high as $5.25 and last traded at $5.25, with a volume of 1088112 shares changing hands. The stock had previously closed at $5.21.

Matterport Price Performance

The stock has a 50-day simple moving average of $4.94 and a 200-day simple moving average of $4.67. The stock has a market cap of $1.71 billion, a PE ratio of -6.39 and a beta of 1.06.

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

Insider Activity at Matterport

In other Matterport news, CRO Jay Remley sold 82,229 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total value of $388,943.17. Following the completion of the sale, the executive now owns 1,408,626 shares of the company’s stock, valued at $6,662,800.98. This trade represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Japjit Tulsi sold 85,015 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $402,120.95. Following the transaction, the chief technology officer now directly owns 608,744 shares in the company, valued at approximately $2,879,359.12. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 645,163 shares of company stock worth $3,051,621. 17.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Matterport

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc purchased a new position in Matterport in the fourth quarter valued at about $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Matterport in the 3rd quarter valued at approximately $30,000. CIBC Asset Management Inc purchased a new position in shares of Matterport during the 4th quarter valued at approximately $50,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of 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, Simplicity Wealth LLC bought a new stake in shares of Matterport in the third quarter worth $120,000. 36.96% of the stock is owned by hedge funds and other institutional investors.

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.