Matterport (NASDAQ:MTTR) Reaches New 12-Month High – Should You Buy?

Matterport, Inc. (NASDAQ:MTTR) reached a new 52-week high during trading on Tuesday . The company traded as high as $5.17 and last traded at $5.15, with a volume of 1363708 shares trading hands. The stock had previously closed at $5.14.

Matterport Trading Up 0.3 %

The company has a market cap of $1.66 billion, a price-to-earnings ratio of -6.21 and a beta of 1.05. The firm has a 50-day moving average price of $4.84 and a 200 day moving average price of $4.60.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, meeting 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 business had revenue of $43.79 million during the quarter, compared to analyst estimates of $43.91 million. During the same period in the previous year, the business posted ($0.04) EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that Matterport, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at Matterport

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

Hedge Funds Weigh In On Matterport

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Matterport by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,824 shares of the company’s stock worth $464,000 after purchasing an additional 2,550 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Matterport by 23.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company’s stock valued at $63,000 after buying an additional 2,618 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Matterport by 3.2% during the 2nd quarter. Blair William & Co. IL now owns 168,473 shares of the company’s stock valued at $753,000 after acquiring an additional 5,226 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Matterport during the 4th quarter worth $29,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Matterport in the 3rd quarter worth $30,000. 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.