Matterport (NASDAQ:MTTR) Shares Gap Down – Here’s Why

Matterport, Inc. (NASDAQ:MTTR) gapped down prior to trading on Monday . The stock had previously closed at $4.86, but opened at $4.75. Matterport shares last traded at $4.76, with a volume of 366,424 shares.

Matterport Trading Down 0.4 %

The stock has a market capitalization of $1.53 billion, a P/E ratio of -5.72 and a beta of 1.07. The company’s fifty day simple moving average is $4.69 and its 200 day simple moving average is $4.45.

Matterport (NASDAQ:MTTR) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Matterport had a negative return on equity of 32.19% and a negative net margin of 157.21%. The firm had revenue of $43.79 million for the quarter, compared to analysts’ expectations of $43.91 million. During the same quarter last year, the firm posted ($0.04) EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Matterport, Inc. will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.47, for a total value of $111,750.00. Following the completion of the transaction, the chief financial officer now directly owns 1,518,751 shares in the company, valued at approximately $6,788,816.97. This represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Japjit Tulsi sold 32,032 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.41, for a total value of $141,261.12. Following the completion of the transaction, the chief technology officer now directly owns 586,390 shares of the company’s stock, valued at $2,585,979.90. This represents a 5.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,671 shares of company stock valued at $2,045,982 over the last ninety days. 17.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Matterport

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. bought a new position in shares of Matterport during the first quarter valued at $25,000. Redwood Wealth Management Group LLC bought a new stake in shares of Matterport in the second quarter worth approximately $29,000. Allspring Global Investments Holdings LLC bought a new position in Matterport during the third quarter valued at approximately $30,000. Cetera Advisors LLC purchased a new stake in Matterport during the 1st quarter valued at $44,000. Finally, Virtu Financial LLC lifted its holdings in shares of Matterport by 31.9% during the 1st quarter. Virtu Financial LLC now owns 20,568 shares of the company’s stock valued at $46,000 after buying an additional 4,969 shares during the period. 36.96% of the stock is owned by 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.