Matterport (NASDAQ:MTTR) Trading Down 5% – Time to Sell?

Matterport, Inc. (NASDAQ:MTTR)’s stock price traded down 5% on Wednesday . The company traded as low as $4.56 and last traded at $4.57. 320,619 shares changed hands during 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 Performance

The stock’s fifty day moving average price is $4.51 and its 200-day moving average price is $4.23. The firm has a market cap of $1.42 billion, a PE ratio of -7.55 and a beta of 1.07.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $42.20 million during 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 company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned ($0.19) EPS. Sell-side analysts forecast that Matterport, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Matterport

In related news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.47, for a total value of $111,750.00. Following the sale, the chief financial officer now directly owns 1,518,751 shares in the company, valued at $6,788,816.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.47, for a total transaction of $111,750.00. Following the sale, the chief financial officer now owns 1,518,751 shares in the company, valued at approximately $6,788,816.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raymond J. Pittman sold 135,083 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.41, for a total value of $595,716.03. Following the completion of the transaction, the chief executive officer now directly owns 4,083,196 shares of the company’s stock, valued at approximately $18,006,894.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 494,671 shares of company stock valued at $2,155,982. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Matterport

Several hedge funds have recently modified their holdings of MTTR. B. Riley Wealth Advisors Inc. purchased a new position in shares of Matterport during the first quarter valued at approximately $25,000. Redwood Wealth Management Group LLC purchased a new position in shares of Matterport during the 2nd quarter worth $29,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Matterport during the 3rd quarter worth $30,000. Cetera Advisors LLC acquired a new stake in Matterport in the 1st quarter worth about $44,000. Finally, Virtu Financial LLC grew its holdings in Matterport by 31.9% in the first quarter. Virtu Financial LLC now owns 20,568 shares of the company’s stock valued at $46,000 after purchasing an additional 4,969 shares during the period. 36.96% of the stock is owned by institutional investors and hedge funds.

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.