Matterport Target of Unusually High Options Trading (NASDAQ:MTTR)

Matterport, Inc. (NASDAQ:MTTRGet Free Report) saw unusually large options trading on Monday. Stock traders purchased 10,463 call options on the stock. This represents an increase of approximately 286% compared to the average daily volume of 2,709 call options.

Matterport Trading Down 1.9 %

NASDAQ:MTTR opened at $4.22 on Tuesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -7.03 and a beta of 1.07. Matterport has a 1 year low of $1.73 and a 1 year high of $4.99. The firm has a 50 day moving average of $4.31 and a 200-day moving average of $3.05.

Matterport (NASDAQ:MTTRGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $39.87 million for the quarter, compared to analyst estimates of $39.98 million. Matterport had a negative return on equity of 33.59% and a negative net margin of 113.62%. As a group, analysts forecast that Matterport will post -0.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on MTTR. Piper Sandler raised their price target on shares of Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Northland Securities reissued a “market perform” rating and set a $5.50 target price on shares of Matterport in a research report on Tuesday, April 23rd. Finally, Loop Capital reaffirmed a “hold” rating and issued a $5.50 price target (up previously from $5.00) on shares of Matterport in a report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.50.

Get Our Latest Stock Report on MTTR

Insider Transactions at Matterport

In other news, CEO Raymond J. Pittman sold 209,180 shares of Matterport stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.41, for a total value of $922,483.80. Following the transaction, the chief executive officer now owns 3,695,530 shares of the company’s stock, valued at $16,297,287.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Matterport news, CEO Raymond J. Pittman sold 209,180 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.41, for a total value of $922,483.80. Following the sale, the chief executive officer now owns 3,695,530 shares of the company’s stock, valued at approximately $16,297,287.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Daniel Fay sold 86,768 shares of Matterport stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.41, for a total value of $382,646.88. Following the completion of the transaction, the chief financial officer now directly owns 1,494,168 shares in the company, valued at $6,589,280.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 475,645 shares of company stock worth $2,100,344. 17.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matterport

A number of large investors have recently modified their holdings of MTTR. Vanguard Group Inc. lifted its holdings in Matterport by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock worth $50,741,000 after buying an additional 306,958 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Matterport by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,221,465 shares of the company’s stock valued at $8,666,000 after acquiring an additional 126,052 shares during the last quarter. Droms Strauss Advisors Inc. MO ADV bought a new position in Matterport in the fourth quarter valued at about $27,000. TFB Advisors LLC acquired a new stake in Matterport in the fourth quarter worth about $64,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Matterport by 16.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,734 shares of the company’s stock worth $188,000 after purchasing an additional 9,793 shares during the last quarter. 36.96% of the stock is currently owned by institutional investors and hedge funds.

About Matterport

(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.

Further Reading

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