Stock Traders Purchase High Volume of Put Options on Matterport (NASDAQ:MTTR)

Matterport, Inc. (NASDAQ:MTTR) saw unusually large options trading on Monday. Stock investors bought 10,281 put options on the company. This represents an increase of approximately 1,024% compared to the typical daily volume of 915 put options.

Insiders Place Their Bets

In other news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.47, for a total value of $111,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,518,751 shares in the company, valued at approximately $6,788,816.97. The trade was a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Raymond J. Pittman sold 135,083 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.41, for a total transaction of $595,716.03. Following the sale, the chief executive officer now directly owns 4,083,196 shares in the company, valued at $18,006,894.36. This trade represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 469,671 shares of company stock worth $2,045,982 over the last quarter. 17.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matterport

A number of institutional investors and hedge funds have recently modified their holdings of MTTR. Redwood Wealth Management Group LLC purchased a new position in Matterport in the 2nd quarter worth about $29,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Matterport in the 3rd quarter valued at approximately $30,000. Trellis Wealth Advisors LLC acquired a new position in Matterport in the 2nd quarter worth approximately $49,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Matterport during the 2nd quarter worth approximately $51,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Matterport in the first quarter worth $25,000. 36.96% of the stock is owned by institutional investors and hedge funds.

Matterport Price Performance

MTTR stock remained flat at $4.68 during mid-day trading on Monday. The company’s stock had a trading volume of 1,258,494 shares, compared to its average volume of 2,721,388. The business has a 50 day moving average price of $4.62 and a 200-day moving average price of $4.42. Matterport has a 12 month low of $1.73 and a 12 month high of $4.99. The firm has a market capitalization of $1.51 billion, a PE ratio of -5.64 and a beta of 1.07.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $43.79 million for the quarter, compared to analysts’ expectations of $43.91 million. Matterport had a negative net margin of 157.21% and a negative return on equity of 32.19%. Matterport’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) earnings per share. As a group, research analysts predict that Matterport will post -0.44 earnings per share for the current fiscal year.

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.