Matterport, Inc. (NASDAQ:MTTR) Holdings Raised by ARK Investment Management LLC

ARK Investment Management LLC lifted its stake in shares of Matterport, Inc. (NASDAQ:MTTRGet Rating) by 94.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,037,911 shares of the company’s stock after purchasing an additional 503,082 shares during the quarter. ARK Investment Management LLC owned about 0.37% of Matterport worth $5,698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTTR. Anderson Hoagland & Co. purchased a new position in Matterport in the 2nd quarter worth about $607,000. Kestra Private Wealth Services LLC bought a new stake in shares of Matterport in the 1st quarter valued at approximately $150,000. Advisory Services Network LLC bought a new stake in shares of Matterport in the 1st quarter valued at approximately $115,000. Quantbot Technologies LP acquired a new stake in Matterport in the 1st quarter worth approximately $174,000. Finally, First Republic Investment Management Inc. lifted its holdings in Matterport by 31.0% in the 1st quarter. First Republic Investment Management Inc. now owns 13,277 shares of the company’s stock worth $108,000 after purchasing an additional 3,144 shares during the last quarter. 38.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wolfe Research assumed coverage on Matterport in a research report on Tuesday, August 16th. They set a “market perform” rating on the stock. Piper Sandler upped their price target on Matterport from $5.00 to $7.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Finally, Morgan Stanley upped their price target on Matterport from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, August 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.83.

Matterport Stock Down 1.2 %

Shares of MTTR opened at $4.05 on Monday. Matterport, Inc. has a 12-month low of $3.51 and a 12-month high of $37.60. The stock’s fifty day simple moving average is $4.54 and its 200-day simple moving average is $5.42.

Matterport (NASDAQ:MTTRGet Rating) last issued its quarterly earnings results on Wednesday, August 10th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02. Matterport had a negative return on equity of 44.99% and a negative net margin of 287.93%. The business had revenue of $28.48 million for the quarter, compared to analyst estimates of $30.37 million. During the same quarter in the prior year, the firm posted ($0.62) earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Matterport, Inc. will post -1.03 EPS for the current year.

Insider Activity

In other Matterport news, Director Jason Krikorian sold 426,304 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $4.61, for a total value of $1,965,261.44. Following the transaction, the director now owns 19,430,006 shares of the company’s stock, valued at $89,572,327.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Matterport news, CTO Japjit Tulsi sold 50,000 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $4.61, for a total value of $230,500.00. Following the transaction, the chief technology officer now owns 295,571 shares of the company’s stock, valued at $1,362,582.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jason Krikorian sold 426,304 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $4.61, for a total value of $1,965,261.44. Following the sale, the director now directly owns 19,430,006 shares in the company, valued at approximately $89,572,327.66. The disclosure for this sale can be found here. Insiders have sold 1,711,653 shares of company stock valued at $7,790,456 over the last 90 days. 24.20% of the stock is owned by company insiders.

Matterport Profile

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Matterport, Inc, a spatial data company, focuses on digitization and datafication of the built world. It offers Matterport digital twins, a 3D data platform to design, build, operate, promote, and understand spaces. The company offers Matterport Capture, an application that enables to capture depth, data, and imagery of a space using 3D cameras, 360 cameras, and iPhones; Matterport Workshop application to customize, add additional details, and share spaces; Matterport Showcase application for audience view and explore space in its final format; and Matterport VR to experience virtual reality.

Further Reading

Institutional Ownership by Quarter for Matterport (NASDAQ:MTTR)

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