Japjit Tulsi Sells 175,000 Shares of Matterport, Inc. (NASDAQ:MTTR) Stock

Matterport, Inc. (NASDAQ:MTTR – Get Rating) CTO Japjit Tulsi sold 175,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $2.80, for a total value of $490,000.00. Following the completion of the transaction, the chief technology officer now owns 176,906 shares of the company’s stock, valued at approximately $495,336.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Japjit Tulsi also recently made the following trade(s):

• On Thursday, March 2nd, Japjit Tulsi sold 26,971 shares of Matterport stock. The shares were sold at an average price of $2.83, for a total transaction of $76,327.93.

Matterport Trading Down 4.9 %

Matterport stock opened at $2.72 on Friday. The firm has a 50 day simple moving average of $2.64 and a 200 day simple moving average of $2.93. Matterport, Inc. has a 1-year low of $2.20 and a 1-year high of $7.45. The firm has a market capitalization of $804.77 million, a price-to-earnings ratio of -3.32 and a beta of 1.54.

Matterport (NASDAQ:MTTR – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). The company had revenue of $41.14 million during the quarter, compared to analysts’ expectations of $39.96 million. Matterport had a negative return on equity of 39.66% and a negative net margin of 162.82%. On average, equities research analysts forecast that Matterport, Inc. will post -0.81 EPS for the current year.

Analyst Ratings Changes

MTTR has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Matterport from a “buy” rating to a “hold” rating and dropped their target price for the company from $5.00 to $3.00 in a research note on Monday, January 23rd. Loop Capital decreased their target price on Matterport from $12.00 to $8.00 in a research report on Thursday, February 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $4.00 price target on shares of Matterport in a research report on Tuesday, March 21st. Finally, Morgan Stanley increased their price target on Matterport from $3.00 to $3.75 and gave the stock an “equal weight” rating in a research note on Friday, February 24th.

Institutional Investors Weigh In On Matterport

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in Matterport by 0.6% during the first quarter. BlackRock Inc. now owns 18,154,368 shares of the company’s stock valued at $49,561,000 after acquiring an additional 105,106 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Matterport by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,653,430 shares of the company’s stock valued at $66,906,000 after purchasing an additional 775,755 shares during the period. State Street Corp grew its position in shares of Matterport by 5.9% during the 1st quarter. State Street Corp now owns 5,185,450 shares of the company’s stock valued at $14,156,000 after purchasing an additional 291,052 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Matterport by 4.1% in the first quarter. Geode Capital Management LLC now owns 4,476,815 shares of the company’s stock worth $12,230,000 after purchasing an additional 175,297 shares during the period. Finally, Pictet Asset Management SA raised its position in shares of Matterport by 17.0% in the third quarter. Pictet Asset Management SA now owns 3,244,892 shares of the company’s stock worth $12,298,000 after buying an additional 471,308 shares in the last quarter. 33.11% of the stock is owned by hedge funds and other institutional investors.

About Matterport

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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.