Matterport (NASDAQ:MTTR) Reaches New 52-Week High – Time to Buy?

Matterport, Inc. (NASDAQ:MTTR) hit a new 52-week high on Monday . The company traded as high as $5.25 and last traded at $5.25, with a volume of 1088112 shares. The stock had previously closed at $5.21.

Matterport Stock Performance

The business has a 50 day moving average price of $4.92 and a two-hundred day moving average price of $4.65. The stock has a market cap of $1.69 billion, a PE ratio of -6.31 and a beta of 1.06.

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

Insider Buying and Selling

In related news, CFO James Daniel Fay sold 119,312 shares of Matterport 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 $564,345.76. Following the sale, the chief financial officer now owns 1,690,458 shares of the company’s stock, valued at approximately $7,995,866.34. The trade was a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 in the company, valued at $19,753,619.93. This trade represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 645,163 shares of company stock valued at $3,051,621. 17.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matterport

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Matterport by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,534,162 shares of the company’s stock valued at $29,410,000 after acquiring an additional 471,641 shares during the period. Millennium Management LLC raised its holdings in Matterport by 142.3% during the 2nd quarter. Millennium Management LLC now owns 3,021,453 shares of the company’s stock valued at $13,506,000 after acquiring an additional 1,774,442 shares during the period. Charles Schwab Investment Management Inc. increased its holdings 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 worth $10,408,000 after purchasing an additional 288,544 shares during the period. Sand Grove Capital Management LLP increased its holdings in shares of Matterport by 112.1% in the third quarter. Sand Grove Capital Management LLP now owns 2,071,883 shares of the company’s stock worth $9,323,000 after purchasing an additional 1,094,879 shares during the period. Finally, Alpine Associates Management Inc. increased its holdings in shares of Matterport by 57.2% in the third quarter. Alpine Associates Management Inc. now owns 2,045,682 shares of the company’s stock worth $9,206,000 after purchasing an additional 744,582 shares during the period. Institutional investors own 36.96% of the company’s stock.

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.