Alpine Associates Management Inc. Invests $5.82 Million in Matterport, Inc. (NASDAQ:MTTR)

Alpine Associates Management Inc. purchased a new position in shares of Matterport, Inc. (NASDAQ:MTTR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,301,100 shares of the company’s stock, valued at approximately $5,816,000.

Other institutional investors have also modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new stake in Matterport in the 2nd quarter valued at approximately $29,000. American Century Companies Inc. lifted its stake in Matterport by 25.3% in the 2nd quarter. American Century Companies Inc. now owns 373,478 shares of the company’s stock valued at $1,669,000 after buying an additional 75,403 shares in the last quarter. Choreo LLC lifted its stake in Matterport by 23.9% in the 2nd quarter. Choreo LLC now owns 30,772 shares of the company’s stock valued at $135,000 after buying an additional 5,939 shares in the last quarter. Arizona State Retirement System lifted its stake in Matterport by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 78,336 shares of the company’s stock valued at $350,000 after buying an additional 6,934 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Matterport in the 2nd quarter valued at approximately $456,000. Hedge funds and other institutional investors own 36.96% of the company’s stock.

Matterport Stock Performance

MTTR stock opened at $4.45 on Monday. Matterport, Inc. has a 1 year low of $1.73 and a 1 year high of $4.99. The stock’s 50 day moving average price is $4.33 and its 200 day moving average price is $3.72. The firm has a market cap of $1.40 billion, a P/E ratio of -7.42 and a beta of 1.08.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $42.20 million during the quarter, compared to the consensus estimate of $44.38 million. Matterport had a negative return on equity of 32.22% and a negative net margin of 164.17%. Matterport’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) EPS. On average, research analysts predict that Matterport, Inc. will post -0.44 earnings per share for the current year.

Insider Buying and Selling at Matterport

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.33, for a total value of $108,250.00. Following the completion of the transaction, the chief financial officer now directly owns 1,425,043 shares in the company, valued at approximately $6,170,436.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Raymond J. Pittman sold 135,083 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.41, for a total transaction of $595,716.03. Following the completion of the sale, the chief executive officer now directly owns 4,083,196 shares in the company, valued at approximately $18,006,894.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.33, for a total value of $108,250.00. Following the sale, the chief financial officer now owns 1,425,043 shares of the company’s stock, valued at $6,170,436.19. The disclosure for this sale can be found here. In the last three months, insiders sold 494,671 shares of company stock worth $2,152,482. Insiders own 17.50% of the company’s stock.

Matterport 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.