Matterport (NASDAQ:MTTR) Reaches New 52-Week High – What’s Next?

Matterport, Inc. (NASDAQ:MTTR)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $5.00 and last traded at $5.00, with a volume of 242816 shares. The stock had previously closed at $4.95.

Matterport Price Performance

The firm’s fifty day moving average price is $4.75 and its 200-day moving average price is $4.47. The stock has a market cap of $1.60 billion, a P/E ratio of -5.96 and a beta of 1.06.

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

Insider Buying and Selling at Matterport

In related news, CRO Jay Remley sold 82,229 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $388,943.17. Following the completion of the sale, the executive now owns 1,408,626 shares of the company’s stock, valued at $6,662,800.98. This trade represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Japjit Tulsi sold 85,015 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total transaction of $402,120.95. Following the transaction, the chief technology officer now directly owns 608,744 shares in the company, valued at approximately $2,879,359.12. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 670,163 shares of company stock valued at $3,163,371 in the last 90 days. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Matterport

Institutional investors and hedge funds have recently modified their holdings of the stock. Magnetar Financial LLC bought a new position in Matterport in the second quarter worth about $27,598,000. Alpine Associates Management Inc. grew its holdings in shares of Matterport by 57.2% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,045,682 shares of the company’s stock worth $9,206,000 after acquiring an additional 744,582 shares during the period. Western Standard LLC bought a new position in shares of Matterport in the 3rd quarter worth approximately $3,322,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Matterport in the 2nd quarter valued at approximately $3,142,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Matterport by 14.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,312,945 shares of the company’s stock valued at $10,408,000 after purchasing an additional 288,544 shares in the last quarter. 36.96% of the stock is owned by hedge funds and other institutional investors.

About Matterport

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.