Matterport (NASDAQ:MTTR) Sees Large Volume Increase

Shares of Matterport, Inc. (NASDAQ:MTTRGet Free Report) saw an uptick in 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 research firms have issued reports on MTTR. BTIG Research initiated coverage on Matterport in a research report on Friday, January 19th. They issued a “neutral” rating on the stock. Wedbush decreased their price target on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $3.00 price objective on shares of Matterport in a research note on Wednesday, February 21st.

View Our Latest Research Report on Matterport

Matterport Stock Performance

The firm has a market cap of $702.66 million, a price-to-earnings ratio of -3.42 and a beta of 1.72. The business has a fifty day simple moving average of $2.16 and a 200-day simple moving average of $2.31.

Matterport (NASDAQ:MTTRGet Free Report) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. The company had revenue of $39.55 million for the quarter, compared to analysts’ expectations of $40.11 million. On average, equities analysts anticipate that Matterport, Inc. will post -0.45 earnings per share for the current year.

Insider Activity

In related news, CEO Raymond J. Pittman sold 69,539 shares of the business’s stock in a transaction on 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 owns 3,231,873 shares of the company’s stock, valued at $6,269,833.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the transaction, the chief financial officer now owns 1,404,944 shares in the company, valued at approximately $3,175,173.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Raymond J. Pittman sold 69,539 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total transaction of $134,905.66. Following the completion of the sale, the chief executive officer now directly owns 3,231,873 shares in the company, valued at $6,269,833.62. 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. Insiders own 16.10% of the company’s stock.

Institutional Trading of Matterport

A number of institutional investors have recently bought and sold shares of MTTR. Northern Trust Corp lifted its stake in shares of Matterport by 0.7% in the 1st quarter. Northern Trust Corp now owns 332,832 shares of the company’s stock valued at $2,703,000 after purchasing an additional 2,258 shares during the period. First Republic Investment Management Inc. increased its holdings in Matterport by 31.0% in the first 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 in the last quarter. NewEdge Advisors LLC lifted its stake in Matterport by 49.3% in the first quarter. NewEdge Advisors LLC now owns 11,370 shares of the company’s stock valued at $31,000 after buying an additional 3,754 shares during the period. Legal & General Group Plc boosted its holdings in shares of Matterport by 2.0% during the 4th quarter. Legal & General Group Plc now owns 197,634 shares of the company’s stock worth $553,000 after buying an additional 3,864 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Matterport by 30.3% during the 1st quarter. ProShare Advisors LLC now owns 17,313 shares of the company’s stock worth $140,000 after buying an additional 4,031 shares in the last quarter. Institutional investors own 36.96% of the company’s stock.

Matterport Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Matterport Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matterport and related companies with MarketBeat.com's FREE daily email newsletter.