Matterport (NASDAQ:MTTR) Stock Price Down 5% – Should You Sell?

Matterport, Inc. (NASDAQ:MTTR) shares traded down 5% on Wednesday . The company traded as low as $4.56 and last traded at $4.57. 320,619 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,768,005 shares. The stock had previously closed at $4.81.

Matterport Stock Up 1.7 %

The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -7.78 and a beta of 1.07. The business has a 50-day simple moving average of $4.52 and a two-hundred day simple moving average of $4.23.

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

Insider Activity

In related news, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $4.40, for a total value of $110,000.00. Following the transaction, the chief financial officer now owns 1,617,608 shares of the company’s stock, valued at approximately $7,117,475.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $4.40, for a total value of $110,000.00. Following the completion of the transaction, the chief financial officer now owns 1,617,608 shares of the company’s stock, valued at approximately $7,117,475.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Japjit Tulsi sold 32,032 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.41, for a total transaction of $141,261.12. Following the sale, the chief technology officer now directly owns 586,390 shares in the company, valued at approximately $2,585,979.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 494,671 shares of company stock valued at $2,155,982 over the last three months. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Matterport

Institutional investors and hedge funds have recently bought and sold shares of the business. Choreo LLC grew its position in Matterport by 101.9% during the first quarter. Choreo LLC now owns 24,833 shares of the company’s stock valued at $56,000 after purchasing an additional 12,535 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Matterport during the 2nd quarter worth about $27,598,000. IMC Chicago LLC bought a new stake in shares of Matterport in the 1st quarter valued at approximately $465,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Matterport in the second quarter worth approximately $3,142,000. Finally, GSA Capital Partners LLP raised its position in Matterport by 85.3% during the first quarter. GSA Capital Partners LLP now owns 389,185 shares of the company’s stock valued at $880,000 after acquiring an additional 179,174 shares in the last quarter. Hedge funds and other institutional investors own 36.96% of the company’s stock.

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.