Matterport (NASDAQ:MTTR) Hits New 12-Month High – What’s Next?

Matterport, Inc. (NASDAQ:MTTR)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $5.17 and last traded at $5.15, with a volume of 1363708 shares traded. The stock had previously closed at $5.14.

Matterport Stock Performance

The company has a market capitalization of $1.69 billion, a PE ratio of -6.29 and a beta of 1.05. The company’s 50-day moving average is $4.86 and its 200 day moving average is $4.61.

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

Insider Activity

In related news, CRO Jay Remley sold 82,229 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 transaction of $388,943.17. Following the transaction, the executive now owns 1,408,626 shares in the company, valued at $6,662,800.98. This represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Raymond J. Pittman sold 358,607 shares of Matterport stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 4,176,241 shares of the company’s stock, valued at approximately $19,753,619.93. This trade represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 645,163 shares of company stock valued at $3,051,621 over the last ninety days. 17.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Matterport by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,534,162 shares of the company’s stock worth $29,410,000 after purchasing an additional 471,641 shares during the period. Millennium Management LLC raised its stake in shares of Matterport by 142.3% in the second quarter. Millennium Management LLC now owns 3,021,453 shares of the company’s stock worth $13,506,000 after buying an additional 1,774,442 shares during the period. Water Island Capital LLC bought a new position in shares of Matterport in the second quarter worth about $11,722,000. Charles Schwab Investment Management Inc. lifted its position in shares of Matterport by 14.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,312,945 shares of the company’s stock valued at $10,408,000 after buying an additional 288,544 shares in the last quarter. Finally, Sand Grove Capital Management LLP grew its stake in shares of Matterport by 112.1% during the 3rd quarter. Sand Grove Capital Management LLP now owns 2,071,883 shares of the company’s stock valued at $9,323,000 after acquiring an additional 1,094,879 shares during the period. 36.96% of the stock is 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.