State Street Corp Cuts Stake in Matterport, Inc. (NASDAQ:MTTR)

State Street Corp cut its position in Matterport, Inc. (NASDAQ:MTTR) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,558,373 shares of the company’s stock after selling 121,999 shares during the period. State Street Corp owned approximately 2.03% of Matterport worth $29,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new position in shares of Matterport in the second quarter worth $29,000. Allspring Global Investments Holdings LLC bought a new position in Matterport during the 3rd quarter valued at about $30,000. Trellis Wealth Advisors LLC bought a new stake in shares of Matterport in the second quarter worth approximately $49,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Matterport by 23.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company’s stock valued at $63,000 after purchasing an additional 2,618 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Matterport by 111.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,664 shares of the company’s stock valued at $97,000 after purchasing an additional 11,403 shares during the period. Institutional investors own 36.96% of the company’s stock.

Matterport Trading Down 2.5 %

NASDAQ:MTTR opened at $4.74 on Friday. The company has a market cap of $1.53 billion, a PE ratio of -5.71 and a beta of 1.06. The company has a 50 day simple moving average of $4.77 and a two-hundred day simple moving average of $4.49. Matterport, Inc. has a 12 month low of $1.73 and a 12 month high of $5.00.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $43.79 million during 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%. Matterport’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Research analysts forecast that Matterport, Inc. will post -0.44 earnings per share for the current year.

Insider Activity

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.47, for a total value of $111,750.00. Following the completion of the transaction, the chief financial officer now directly owns 1,518,751 shares in the company, valued at $6,788,816.97. This represents a 1.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Raymond J. Pittman sold 358,607 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $1,696,211.11. Following the completion of the transaction, the chief executive officer now directly owns 4,176,241 shares in the company, valued at $19,753,619.93. This trade represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 670,163 shares of company stock valued at $3,163,371 in the last 90 days. Company insiders own 17.50% of the company’s stock.

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.