Matterport, Inc. (NASDAQ:MTTR – Get Rating)’s share price dropped 5.8% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $4.18 and last traded at $4.22. Approximately 54,782 shares were traded during trading, a decline of 99% from the average daily volume of 8,136,289 shares. The stock had previously closed at $4.48.Specifically, Director Jason Krikorian sold 426,304 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $4.61, for a total transaction of $1,965,261.44. Following the transaction, the director now directly owns 19,430,006 shares in the company, valued at $89,572,327.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Japjit Tulsi sold 50,000 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $4.61, for a total transaction of $230,500.00. Following the completion of the sale, the chief technology officer now owns 295,571 shares in the company, valued at $1,362,582.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jason Krikorian sold 426,304 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $4.61, for a total transaction of $1,965,261.44. Following the transaction, the director now owns 19,430,006 shares in the company, valued at $89,572,327.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,343,398 shares of company stock worth $6,236,419. Company insiders own 24.20% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on MTTR. Wolfe Research initiated coverage on shares of Matterport in a report on Tuesday, August 16th. They issued a “market perform” rating on the stock. Morgan Stanley upped their target price on shares of Matterport from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, August 12th. Finally, Piper Sandler raised their price target on Matterport from $5.00 to $7.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.83.
Matterport Price Performance
The company’s 50 day simple moving average is $4.54 and its 200 day simple moving average is $5.49. The stock has a market cap of $1.18 billion, a P/E ratio of -2.75 and a beta of 1.81.
Matterport (NASDAQ:MTTR – Get Rating) last issued its quarterly earnings data on Wednesday, August 10th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. Matterport had a negative return on equity of 44.99% and a negative net margin of 287.93%. The business had revenue of $28.48 million for the quarter, compared to the consensus estimate of $30.37 million. During the same quarter last year, the business posted ($0.62) EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that Matterport, Inc. will post -1.03 earnings per share for the current year.
Institutional Trading of Matterport
Large investors have recently bought and sold shares of the business. Royce & Associates LP increased its position in shares of Matterport by 32.8% during the first quarter. Royce & Associates LP now owns 506,000 shares of the company’s stock worth $4,109,000 after acquiring an additional 125,000 shares in the last quarter. Level Four Advisory Services LLC bought a new stake in shares of Matterport in the fourth quarter valued at about $221,000. Blair William & Co. IL boosted its position in shares of Matterport by 48.2% during the fourth quarter. Blair William & Co. IL now owns 30,092 shares of the company’s stock worth $621,000 after buying an additional 9,792 shares during the period. Pictet Asset Management SA bought a new position in shares of Matterport during the fourth quarter worth about $36,044,000. Finally, Charles Schwab Investment Management Inc. raised its position in Matterport by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 904,144 shares of the company’s stock valued at $18,662,000 after buying an additional 19,015 shares during the last quarter. 38.34% of the stock is owned by institutional investors.
Matterport Company Profile
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.