Matterport (NASDAQ:MTTR) Reaches New 1-Year High – Time to Buy?

Matterport, Inc. (NASDAQ:MTTR) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.03 and last traded at $5.03, with a volume of 1446696 shares traded. The stock had previously closed at $4.83.

Matterport Trading Up 1.6 %

The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -6.19 and a beta of 1.05. The stock has a fifty day moving average of $4.83 and a 200-day moving average of $4.58.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Matterport had a negative net margin of 157.21% and a negative return on equity of 32.19%. The company had revenue of $43.79 million during the quarter, compared to analyst estimates of $43.91 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Matterport, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other Matterport news, CEO Raymond J. Pittman sold 358,607 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total value of $1,696,211.11. Following the completion of the sale, the chief executive officer now owns 4,176,241 shares in the company, valued at $19,753,619.93. This represents a 7.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jay Remley sold 82,229 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 $388,943.17. Following the transaction, the executive now owns 1,408,626 shares in the company, valued at approximately $6,662,800.98. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 645,163 shares of company stock worth $3,051,621. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Matterport

Several hedge funds and other institutional investors have recently modified their holdings of MTTR. Versant Capital Management Inc acquired a new position in Matterport in the 4th quarter worth about $29,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Matterport in the 3rd quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Matterport by 23.0% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company’s stock valued at $63,000 after buying an additional 2,618 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Matterport by 111.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,664 shares of the company’s stock worth $97,000 after buying an additional 11,403 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in Matterport during the third quarter valued at approximately $120,000. 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.