Baird Financial Group Inc. Sells 3,290 Shares of Matterport, Inc. (NASDAQ:MTTR)

Baird Financial Group Inc. lowered its position in Matterport, Inc. (NASDAQ:MTTRGet Rating) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,532 shares of the company’s stock after selling 3,290 shares during the quarter. Baird Financial Group Inc.’s holdings in Matterport were worth $174,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp increased its holdings in shares of Matterport by 0.7% in the first quarter. Northern Trust Corp now owns 332,832 shares of the company’s stock worth $2,703,000 after purchasing an additional 2,258 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Matterport by 41.9% in the first quarter. Steward Partners Investment Advisory LLC now owns 7,791 shares of the company’s stock valued at $63,000 after acquiring an additional 2,300 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Matterport by 31.0% in the first quarter. First Republic Investment Management Inc. now owns 13,277 shares of the company’s stock valued at $108,000 after acquiring an additional 3,144 shares during the last quarter. DAVENPORT & Co LLC increased its stake in Matterport by 15.8% in the first quarter. DAVENPORT & Co LLC now owns 29,250 shares of the company’s stock valued at $238,000 after acquiring an additional 4,000 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Matterport by 30.3% in the first quarter. ProShare Advisors LLC now owns 17,313 shares of the company’s stock valued at $140,000 after acquiring an additional 4,031 shares during the last quarter. Institutional investors own 38.34% of the company’s stock.

Matterport Stock Up 3.8 %

NASDAQ MTTR opened at $3.30 on Thursday. The company has a 50-day simple moving average of $3.59 and a two-hundred day simple moving average of $4.23. Matterport, Inc. has a 12-month low of $2.62 and a 12-month high of $37.60. The firm has a market cap of $948.57 million, a price-to-earnings ratio of -3.84 and a beta of 1.53.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley reduced their target price on Matterport from $7.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Matterport from $7.00 to $5.00 in a research note on Friday, November 11th. Wolfe Research assumed coverage on shares of Matterport in a research report on Tuesday, August 16th. They set a “market perform” rating for the company. Finally, Piper Sandler upped their price target on shares of Matterport from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, November 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.90.

Insider Transactions at Matterport

In other news, Director Jason Krikorian sold 368,255 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $4.22, for a total transaction of $1,554,036.10. Following the completion of the sale, the director now directly owns 17,863,987 shares in the company, valued at $75,386,025.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CTO Japjit Tulsi sold 50,000 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $4.61, for a total transaction of $230,500.00. Following the completion of the sale, the chief technology officer now directly owns 295,571 shares in the company, valued at $1,362,582.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jason Krikorian sold 368,255 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $4.22, for a total transaction of $1,554,036.10. Following the sale, the director now owns 17,863,987 shares of the company’s stock, valued at $75,386,025.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,711,653 shares of company stock worth $7,790,456. Company insiders own 24.20% of the company’s stock.

Matterport Company 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.

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Institutional Ownership by Quarter for Matterport (NASDAQ:MTTR)

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