Matterport (NASDAQ:MTTR) Trading Up 4.6%

Matterport, Inc. (NASDAQ:MTTR) shares traded up 4.6% during mid-day trading on Friday . The stock traded as high as $4.35 and last traded at $4.32. 2,460,427 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 3,413,140 shares. The stock had previously closed at $4.13.

Analyst Ratings Changes

Several research firms have recently weighed in on MTTR. Piper Sandler increased their price target on Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Northland Securities reiterated a “market perform” rating and set a $5.50 target price on shares of Matterport in a research report on Tuesday, April 23rd. Finally, Loop Capital reissued a “hold” rating and issued a $5.50 price target (up previously from $5.00) on shares of Matterport in a research report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.50.

Matterport Price Performance

The business’s fifty day moving average price is $4.31 and its 200-day moving average price is $2.96. The stock has a market capitalization of $1.41 billion, a PE ratio of -7.33 and a beta of 1.08.

Matterport (NASDAQ:MTTR) last released its earnings results on Monday, May 6th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. Matterport had a negative net margin of 113.62% and a negative return on equity of 33.59%. The company had revenue of $39.87 million for the quarter, compared to analyst estimates of $39.98 million. On average, analysts expect that Matterport, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Raymond J. Pittman sold 209,180 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.41, for a total transaction of $922,483.80. Following the sale, the chief executive officer now owns 3,695,530 shares of the company’s stock, valued at $16,297,287.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO James Daniel Fay sold 86,768 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $4.41, for a total transaction of $382,646.88. Following the transaction, the chief financial officer now owns 1,494,168 shares in the company, valued at $6,589,280.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Raymond J. Pittman sold 209,180 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.41, for a total transaction of $922,483.80. Following the completion of the sale, the chief executive officer now owns 3,695,530 shares of the company’s stock, valued at approximately $16,297,287.30. The disclosure for this sale can be found here. Insiders sold a total of 475,645 shares of company stock valued at $2,048,344 over the last three months. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Matterport

Several institutional investors have recently bought and sold shares of MTTR. Barclays PLC grew its stake in Matterport by 21.0% during the 3rd quarter. Barclays PLC now owns 120,020 shares of the company’s stock worth $260,000 after buying an additional 20,824 shares during the last quarter. Swiss National Bank raised its position in shares of Matterport by 2.7% in the 3rd quarter. Swiss National Bank now owns 552,900 shares of the company’s stock valued at $1,200,000 after purchasing an additional 14,300 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Matterport by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock valued at $4,046,000 after purchasing an additional 90,581 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Matterport in the 3rd quarter worth approximately $291,000. Finally, Vanguard Group Inc. grew its position in Matterport by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock worth $50,741,000 after purchasing an additional 306,958 shares during the last quarter. 36.96% of the stock is owned by hedge funds and other institutional investors.

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.