Matterport (NASDAQ:MTTR) Shares Up 7.6%

Matterport, Inc. (NASDAQ:MTTR - Get Free Report) shares shot up 7.6% on Wednesday . The company traded as high as $1.96 and last traded at $1.95. 1,588,886 shares changed hands during trading, a decline of 34% from the average session volume of 2,418,567 shares. The stock had previously closed at $1.81.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MTTR. BTIG Research began coverage on shares of Matterport in a report on Friday, January 19th. They set a "neutral" rating for the company. Piper Sandler reaffirmed a "neutral" rating and set a $3.00 price target on shares of Matterport in a report on Wednesday, February 21st. Finally, Wedbush lowered their price target on shares of Matterport from $5.00 to $4.00 and set a "neutral" rating for the company in a report on Thursday, February 22nd.

Matterport Stock Performance

The company has a market capitalization of $606.27 million, a price-to-earnings ratio of -2.95 and a beta of 1.72. The company's fifty day simple moving average is $2.15 and its two-hundred day simple moving average is $2.31.

Matterport (NASDAQ:MTTR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $39.55 million during the quarter, compared to analyst estimates of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. Sell-side analysts anticipate that Matterport, Inc. will post -0.45 EPS for the current year.

Insider Transactions at Matterport

In other news, CEO Raymond J. Pittman sold 69,539 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total value of $134,905.66. Following the transaction, the chief executive officer now directly owns 3,231,873 shares in the company, valued at approximately $6,269,833.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Raymond J. Pittman sold 69,539 shares of Matterport stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total value of $134,905.66. Following the sale, the chief executive officer now directly owns 3,231,873 shares in the company, valued at approximately $6,269,833.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Raymond J. Pittman sold 72,096 shares of Matterport stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $2.02, for a total transaction of $145,633.92. Following the completion of the sale, the chief executive officer now owns 3,375,510 shares in the company, valued at $6,818,530.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 437,909 shares of company stock worth $893,572. 16.10% of the stock is currently owned by insiders.

Institutional Trading of Matterport

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Matterport by 171.4% during the 1st quarter. Vanguard Group Inc. now owns 11,882,193 shares of the company's stock worth $96,483,000 after buying an additional 7,504,573 shares in the last quarter. State Street Corp lifted its stake in Matterport by 460.3% in the second quarter. State Street Corp now owns 4,559,685 shares of the company's stock valued at $16,688,000 after acquiring an additional 3,745,958 shares during the last quarter. BlackRock Inc. lifted its stake in Matterport by 17.0% in the second quarter. BlackRock Inc. now owns 21,239,174 shares of the company's stock valued at $66,903,000 after acquiring an additional 3,084,806 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Matterport by 737.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,574,336 shares of the company's stock worth $12,783,000 after buying an additional 1,821,154 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Matterport by 46.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,672,781 shares of the company's stock worth $15,261,000 after buying an additional 1,794,853 shares during the period. 36.96% of the stock is currently owned by institutional investors.

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.