Principal Financial Group Inc. Sells 10,856 Shares of Matterport, Inc. (NASDAQ:MTTR)

Principal Financial Group Inc. reduced its stake in Matterport, Inc. (NASDAQ:MTTR) by 30.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,526 shares of the company’s stock after selling 10,856 shares during the period. Principal Financial Group Inc.’s holdings in Matterport were worth $110,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Redwood Wealth Management Group LLC acquired a new stake in shares of Matterport during the 2nd quarter valued at $29,000. Allspring Global Investments Holdings LLC bought a new position in Matterport during the 3rd quarter worth $30,000. Trellis Wealth Advisors LLC acquired a new position in Matterport during the 2nd quarter worth about $49,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Matterport in the 2nd quarter valued at about $51,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Matterport during the 1st quarter valued at approximately $25,000. 36.96% of the stock is currently owned by institutional investors and hedge funds.

Matterport Stock Performance

Shares of NASDAQ MTTR opened at $4.89 on Wednesday. The company’s 50 day moving average price is $4.66 and its 200-day moving average price is $4.43. Matterport, Inc. has a 52-week low of $1.73 and a 52-week high of $4.99. The company has a market capitalization of $1.58 billion, a P/E ratio of -5.89 and a beta of 1.07.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $43.79 million for the quarter, compared to analyst estimates of $43.91 million. Matterport had a negative return on equity of 32.19% and a negative net margin of 157.21%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) earnings per share. Analysts forecast that Matterport, Inc. will post -0.44 earnings per share for the current year.

Insider Transactions at Matterport

In other news, insider Matthew Zinn sold 31,808 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.41, for a total transaction of $140,273.28. Following the completion of the sale, the insider now directly owns 481,687 shares of the company’s stock, valued at $2,124,239.67. The trade was a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Raymond J. Pittman sold 135,083 shares of Matterport stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.41, for a total value of $595,716.03. Following the transaction, the chief executive officer now owns 4,083,196 shares of the company’s stock, valued at $18,006,894.36. This trade represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,671 shares of company stock valued at $2,045,982 in the last 90 days. 17.50% of the stock is currently owned by corporate insiders.

Matterport 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.