Matterport (NASDAQ:MTTR) Sets New 1-Year High – Here’s Why

Shares of Matterport, Inc. (NASDAQ:MTTR) reached a new 52-week high on Wednesday . The company traded as high as $5.03 and last traded at $5.03, with a volume of 1446696 shares. The stock had previously closed at $4.83.

Matterport Stock Performance

The stock’s fifty day moving average is $4.82 and its two-hundred day moving average is $4.58. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -6.05 and a beta of 1.05.

Matterport (NASDAQ:MTTR) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business 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%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. Sell-side analysts predict that Matterport, Inc. will post -0.44 earnings per share for the current year.

Insider Buying and Selling at Matterport

In other news, CRO Jay Remley sold 82,229 shares of Matterport stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total value of $388,943.17. Following the transaction, the executive now owns 1,408,626 shares of the company’s stock, valued at $6,662,800.98. The trade was a 5.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James Daniel Fay sold 119,312 shares of Matterport stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $564,345.76. Following the completion of the transaction, the chief financial officer now directly owns 1,690,458 shares in the company, valued at $7,995,866.34. This represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 645,163 shares of company stock valued at $3,051,621. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Matterport

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Matterport by 7.8% in the third quarter. Geode Capital Management LLC now owns 6,534,162 shares of the company’s stock worth $29,410,000 after buying an additional 471,641 shares during the period. Magnetar Financial LLC acquired a new position in shares of Matterport in the second quarter worth about $27,598,000. Millennium Management LLC boosted its holdings in shares of Matterport by 142.3% in the second quarter. Millennium Management LLC now owns 3,021,453 shares of the company’s stock worth $13,506,000 after buying an additional 1,774,442 shares during the period. Water Island Capital LLC acquired a new position in shares of Matterport in the second quarter worth about $11,722,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Matterport by 14.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,312,945 shares of the company’s stock worth $10,408,000 after buying an additional 288,544 shares during the period. Institutional investors and hedge funds 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.