Choreo LLC Raises Stock Position in Matterport, Inc. (NASDAQ:MTTR)

Choreo LLC lifted its position in Matterport, Inc. (NASDAQ:MTTR) by 101.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,833 shares of the company’s stock after purchasing an additional 12,535 shares during the period. Choreo LLC’s holdings in Matterport were worth $56,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MTTR. G2 Investment Partners Management LLC lifted its holdings in Matterport by 136.7% during the fourth quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock worth $3,757,000 after buying an additional 806,528 shares during the period. Vanguard Group Inc. raised its holdings in Matterport by 1.3% in the third quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock worth $50,741,000 after purchasing an additional 306,958 shares in the last quarter. IMC Chicago LLC bought a new position in Matterport in the first quarter worth about $465,000. Dynamic Technology Lab Private Ltd purchased a new stake in Matterport during the fourth quarter valued at approximately $344,000. Finally, Apollon Wealth Management LLC purchased a new position in Matterport during the 4th quarter worth $28,000. Institutional investors own 36.96% of the company’s stock.

Matterport Stock Down 1.9 %

MTTR stock opened at $4.22 on Tuesday. Matterport, Inc. has a one year low of $1.73 and a one year high of $4.99. The firm’s 50 day moving average price is $4.31 and its 200-day moving average price is $3.05.

Matterport (NASDAQ:MTTR) last posted its earnings results on Monday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $39.87 million for the quarter, compared to the consensus estimate 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, research analysts expect that Matterport, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MTTR shares. Northland Securities reiterated a “market perform” rating and set a $5.50 price target on shares of Matterport in a research note on Tuesday, April 23rd. Loop Capital reiterated a “hold” rating and issued a $5.50 price objective (up from $5.00) on shares of Matterport in a report on Tuesday, April 23rd. Finally, 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 note on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.50.

Insider Buying and Selling at Matterport

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $4.60, for a total transaction 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 document filed with the SEC, which is available through this hyperlink. In other news, CFO James Daniel Fay sold 25,000 shares of Matterport 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 of the company’s stock, valued at $6,934,417.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Jay Remley sold 36,899 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.41, for a total value of $162,724.59. Following the transaction, the executive now directly owns 1,201,056 shares in the company, valued at approximately $5,296,656.96. The disclosure for this sale can be found here. Insiders have sold 475,645 shares of company stock valued at $2,100,344 over the last 90 days. 17.50% of the stock is owned by insiders.

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.