Matterport (NASDAQ:MTTR) Reaches New 1-Year High – Here’s Why

Matterport, Inc. (NASDAQ:MTTR)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $5.24 and last traded at $5.24, with a volume of 372540 shares trading hands. The stock had previously closed at $5.21.

Matterport Trading Up 0.3 %

The business has a fifty day moving average price of $4.91 and a two-hundred day moving average price of $4.64. The firm has a market capitalization of $1.68 billion, a PE ratio of -6.26 and a beta of 1.05.

Matterport (NASDAQ:MTTR) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $43.91 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Matterport’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that Matterport, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Japjit Tulsi sold 85,015 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $402,120.95. Following the transaction, the chief technology officer now owns 608,744 shares of the company’s stock, valued at approximately $2,879,359.12. This represents a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Raymond J. Pittman sold 358,607 shares of Matterport stock in a transaction dated 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 transaction, the chief executive officer now directly owns 4,176,241 shares of the company’s stock, valued at approximately $19,753,619.93. This represents a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 645,163 shares of company stock valued at $3,051,621. Company insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Matterport

Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Matterport by 116.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,967,215 shares of the company’s stock valued at $8,852,000 after buying an additional 1,057,537 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Matterport by 14.3% in 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 acquiring an additional 288,544 shares in the last quarter. Alpine Associates Management Inc. boosted its holdings in Matterport by 57.2% in the third quarter. Alpine Associates Management Inc. now owns 2,045,682 shares of the company’s stock valued at $9,206,000 after purchasing an additional 744,582 shares during the period. Western Standard LLC acquired a new position in Matterport during the 3rd quarter worth $3,322,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Matterport during the 2nd quarter worth about $3,142,000. 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.