Shares of Matterport, Inc. (NASDAQ:MTTR – Get Rating) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $5.80.
Several equities analysts recently weighed in on the company. Morgan Stanley lowered their target price on Matterport from $4.50 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, December 19th. Deutsche Bank Aktiengesellschaft downgraded Matterport from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $5.00 to $3.00 in a research note on Monday, January 23rd. Finally, Piper Sandler decreased their price objective on Matterport from $6.00 to $4.00 and set an “overweight” rating on the stock in a research note on Monday, January 9th.
Insider Transactions at Matterport
In other news, CTO Japjit Tulsi sold 54,110 shares of the firm’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $3.08, for a total value of $166,658.80. Following the transaction, the chief technology officer now owns 351,605 shares of the company’s stock, valued at $1,082,943.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Raymond J. Pittman sold 243,709 shares of the stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $3.08, for a total transaction of $750,623.72. Following the completion of the sale, the chief executive officer now owns 1,916,843 shares in the company, valued at $5,903,876.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Japjit Tulsi sold 54,110 shares of the stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $3.08, for a total value of $166,658.80. Following the sale, the chief technology officer now owns 351,605 shares of the company’s stock, valued at approximately $1,082,943.40. The disclosure for this sale can be found here. Insiders have sold 442,019 shares of company stock valued at $1,361,419 over the last quarter. 24.20% of the stock is currently owned by company insiders.
Institutional Trading of Matterport
Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Matterport by 171.4% during the first quarter. Vanguard Group Inc. now owns 11,882,193 shares of the company’s stock valued at $96,483,000 after buying an additional 7,504,573 shares during the last quarter. State Street Corp boosted its stake in Matterport by 460.3% during the second quarter. State Street Corp now owns 4,559,685 shares of the company’s stock valued at $16,688,000 after buying an additional 3,745,958 shares during the last quarter. Banque Pictet & Cie SA boosted its stake in Matterport by 404.0% during the second quarter. Banque Pictet & Cie SA now owns 2,520,000 shares of the company’s stock valued at $9,223,000 after buying an additional 2,020,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Matterport by 737.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,574,336 shares of the company’s stock valued at $12,783,000 after buying an additional 1,821,154 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Matterport by 498.7% during the second quarter. Northern Trust Corp now owns 1,992,632 shares of the company’s stock valued at $7,292,000 after buying an additional 1,659,800 shares during the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.
Matterport Stock Down 1.1 %
MTTR opened at $3.62 on Tuesday. The firm has a 50 day moving average price of $2.96 and a 200-day moving average price of $3.66. Matterport has a twelve month low of $2.37 and a twelve month high of $9.49. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.21 and a beta of 1.58.
Matterport (NASDAQ:MTTR – Get Rating) last announced its earnings results on Thursday, November 10th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05. The business had revenue of $37.99 million during the quarter, compared to analysts’ expectations of $35.86 million. Matterport had a negative net margin of 173.65% and a negative return on equity of 39.17%. As a group, analysts expect that Matterport will post -0.96 earnings per share for the current year.
About Matterport
Matterport, Inc, a spatial data company, focuses on digitization and datafication of the built world. It offers Matterport digital twins, a 3D data platform to design, build, operate, promote, and understand spaces. The company offers Matterport Capture, an application that enables to capture depth, data, and imagery of a space using 3D cameras, 360 cameras, and iPhones; Matterport Workshop application to customize, add additional details, and share spaces; Matterport Showcase application for audience view and explore space in its final format; and Matterport VR to experience virtual reality.