Matterport (NASDAQ:MTTR) Shares Gap Down to $4.34

Matterport, Inc. (NASDAQ:MTTR) gapped down before the market opened on Friday . The stock had previously closed at $4.34, but opened at $4.18. Matterport shares last traded at $4.29, with a volume of 223,940 shares.

Wall Street Analyst Weigh In

MTTR has been the subject of a number of research analyst reports. Loop Capital restated a “hold” rating and set a $5.50 price objective (up previously from $5.00) on shares of Matterport in a report on Tuesday, April 23rd. Piper Sandler lifted their price target on shares of Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Finally, Northland Securities reissued a “market perform” rating and set a $5.50 price objective on shares of Matterport in a report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Matterport currently has a consensus rating of “Hold” and a consensus price target of $4.50.

Matterport Stock Down 1.8 %

The firm has a 50 day simple moving average of $4.33 and a 200 day simple moving average of $3.02.

Matterport (NASDAQ:MTTR) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $39.98 million. Matterport had a negative net margin of 113.62% and a negative return on equity of 33.59%. On average, equities analysts expect that Matterport, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Matterport

In related news, CFO James Daniel Fay sold 25,000 shares of the 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 transaction, the chief financial officer now owns 1,507,482 shares of the company’s stock, valued at $6,934,417.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CRO Jay Remley sold 36,899 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.41, for a total transaction of $162,724.59. Following the transaction, the executive now owns 1,201,056 shares of the company’s stock, valued at approximately $5,296,656.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was 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 of the company’s stock, valued at $6,934,417.20. The disclosure for this sale can be found here. Insiders sold a total of 475,645 shares of company stock worth $2,100,344 over the last three months. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Matterport

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC raised its holdings in Matterport by 31.9% during the 1st quarter. Virtu Financial LLC now owns 20,568 shares of the company’s stock valued at $46,000 after buying an additional 4,969 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Matterport by 23.4% in the fourth quarter. Victory Capital Management Inc. now owns 33,901 shares of the company’s stock worth $91,000 after purchasing an additional 6,425 shares in the last quarter. Swiss National Bank lifted its position in Matterport by 1.6% during the 1st quarter. Swiss National Bank now owns 512,900 shares of the company’s stock valued at $1,159,000 after acquiring an additional 8,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Matterport by 16.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,734 shares of the company’s stock valued at $188,000 after buying an additional 9,793 shares in the last quarter. Finally, Droms Strauss Advisors Inc. MO ADV bought a new stake in Matterport in the fourth quarter worth $27,000. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

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.