Matterport (NASDAQ:MTTR) Reaches New 52-Week High – Here’s Why

Shares of Matterport, Inc. (NASDAQ:MTTR) reached a new 52-week high during trading on Tuesday . The company traded as high as $5.17 and last traded at $5.15, with a volume of 1363708 shares changing hands. The stock had previously closed at $5.14.

Matterport Price Performance

The firm’s fifty day simple moving average is $4.84 and its 200 day simple moving average is $4.60. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -6.21 and a beta of 1.05.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, hitting 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 firm had revenue of $43.79 million during the quarter, compared to analyst estimates of $43.91 million. During the same quarter last year, the business posted ($0.04) EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Matterport, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Matterport

In related news, CRO Jay Remley sold 82,229 shares of the business’s 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 directly owns 1,408,626 shares of the company’s stock, valued at approximately $6,662,800.98. The trade was a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Raymond J. Pittman sold 358,607 shares of the 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 owns 4,176,241 shares of the company’s stock, valued at approximately $19,753,619.93. The trade was a 7.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 645,163 shares of company stock valued at $3,051,621. Company insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in shares of Matterport during the 4th quarter worth $29,000. Allspring Global Investments Holdings LLC acquired a new position in Matterport during the third quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Matterport by 23.0% during the third 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 lifted its position in shares of 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 stake in shares of Matterport during the 3rd quarter worth about $120,000. Hedge funds and other institutional investors own 36.96% of the company’s stock.

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.