Matterport (NASDAQ:MTTR) Shares Down 3.6%

Matterport, Inc. (NASDAQ:MTTR) shares traded down 3.6% on Monday . The stock traded as low as $4.28 and last traded at $4.31. 240,842 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 3,484,233 shares. The stock had previously closed at $4.47.

Analysts Set New Price Targets

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

Matterport Stock Performance

The firm has a 50 day simple moving average of $4.35 and a 200-day simple moving average of $3.01.

Matterport (NASDAQ:MTTR) last announced its earnings results on Monday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Matterport had a negative return on equity of 33.59% and a negative net margin of 113.62%. The company had revenue of $39.87 million during the quarter, compared to analyst estimates of $39.98 million. Equities analysts anticipate that Matterport, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $4.60, for a total value of $115,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,507,482 shares in the company, valued at $6,934,417.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $4.60, for a total value of $115,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,507,482 shares in the company, valued at $6,934,417.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Raymond J. Pittman sold 209,180 shares of Matterport stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.41, for a total value of $922,483.80. Following the completion of the sale, the chief executive officer now owns 3,695,530 shares of the company’s stock, valued at $16,297,287.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 475,645 shares of company stock worth $2,100,344. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Matterport

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTTR. G2 Investment Partners Management LLC raised its position in Matterport by 136.7% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock valued at $3,757,000 after buying an additional 806,528 shares during the last quarter. Vanguard Group Inc. raised its position in Matterport by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock valued at $50,741,000 after buying an additional 306,958 shares during the last quarter. IMC Chicago LLC acquired a new stake in Matterport in the 1st quarter valued at approximately $465,000. Dynamic Technology Lab Private Ltd acquired a new stake in Matterport in the 4th quarter valued at approximately $344,000. Finally, Apollon Wealth Management LLC acquired a new stake in Matterport in the 4th quarter valued at approximately $28,000. 36.96% of the stock is currently owned by institutional investors and hedge funds.

Matterport Company Profile

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.