Matterport (NASDAQ:MTTR) Sees Strong Trading Volume

Shares of Matterport, Inc. (NASDAQ:MTTR - Get Free Report) saw strong trading volume on Thursday . 2,735,386 shares changed hands during trading, an increase of 12% from the previous session's volume of 2,438,111 shares.The stock last traded at $2.33 and had previously closed at $1.95.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BTIG Research assumed coverage on Matterport in a research report on Friday, January 19th. They set a "neutral" rating on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $3.00 price objective on shares of Matterport in a research report on Wednesday, February 21st. Finally, Wedbush dropped their price objective on Matterport from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Thursday, February 22nd.

Matterport Price Performance

The business has a 50-day moving average of $2.15 and a two-hundred day moving average of $2.31. The company has a market cap of $702.66 million, a P/E ratio of -3.34 and a beta of 1.72.

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

Insiders Place Their Bets

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the firm's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the sale, the chief financial officer now owns 1,404,944 shares of the company's stock, valued at $3,175,173.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO James Daniel Fay sold 25,000 shares of the firm's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the transaction, the chief financial officer now directly owns 1,404,944 shares in the company, valued at $3,175,173.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Raymond J. Pittman sold 72,096 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $2.02, for a total value of $145,633.92. Following the completion of the transaction, the chief executive officer now owns 3,375,510 shares of the company's stock, valued at $6,818,530.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 437,909 shares of company stock valued at $893,572. 16.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MTTR. 180 Wealth Advisors LLC purchased a new position in shares of Matterport in the third quarter worth about $27,000. Droms Strauss Advisors Inc. MO ADV purchased a new position in shares of Matterport in the fourth quarter worth about $27,000. Apollon Wealth Management LLC purchased a new position in shares of Matterport in the fourth quarter worth about $28,000. Arete Wealth Advisors LLC purchased a new position in Matterport during the first quarter valued at approximately $30,000. Finally, Private Advisor Group LLC purchased a new position in Matterport during the fourth quarter valued at approximately $31,000. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

About Matterport

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.