Shares of Matterport, Inc. (NASDAQ:MTTR – Get Rating) reached a new 52-week low on Monday after Morgan Stanley lowered their price target on the stock from $4.50 to $3.00. Morgan Stanley currently has an equal weight rating on the stock. Matterport traded as low as $2.55 and last traded at $2.55, with a volume of 9971 shares. The stock had previously closed at $2.80.
Several other equities research analysts have also recently commented on the stock. Piper Sandler lifted their price target on shares of Matterport from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday, November 11th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Matterport from $7.00 to $5.00 in a report on Friday, November 11th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.60.
Insider Buying and Selling at Matterport
In other news, CEO Raymond J. Pittman sold 243,709 shares of Matterport stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $3.08, for a total transaction of $750,623.72. Following the transaction, the chief executive officer now directly owns 1,916,843 shares of the company’s stock, valued at $5,903,876.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO James Daniel Fay sold 90,124 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $3.08, for a total value of $277,581.92. Following the completion of the transaction, the chief financial officer now directly owns 687,127 shares in the company, valued at approximately $2,116,351.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Raymond J. Pittman sold 243,709 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $3.08, for a total transaction of $750,623.72. Following the sale, the chief executive officer now owns 1,916,843 shares in the company, valued at $5,903,876.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 442,019 shares of company stock valued at $1,361,419. Corporate insiders own 24.20% of the company’s stock.
Institutional Investors Weigh In On Matterport
Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its position in Matterport by 139.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,359 shares of the company’s stock valued at $26,000 after acquiring an additional 4,289 shares in the last quarter. Signaturefd LLC boosted its position in shares of Matterport by 93.2% during the third quarter. Signaturefd LLC now owns 8,500 shares of the company’s stock worth $32,000 after buying an additional 4,100 shares during the period. Samalin Investment Counsel LLC bought a new position in shares of Matterport during the first quarter worth about $37,000. Wedbush Securities Inc. bought a new position in shares of Matterport during the second quarter worth about $40,000. Finally, Trexquant Investment LP bought a new stake in Matterport in the 2nd quarter valued at approximately $40,000. Institutional investors own 38.34% of the company’s stock.
Matterport Stock Performance
The stock has a market cap of $744.48 million, a price-to-earnings ratio of -3.26 and a beta of 1.42. The business has a 50-day simple moving average of $3.23 and a two-hundred day simple moving average of $3.97.
About Matterport
Matterport, Inc, a spatial data company, focuses on digitization and datafication of the built world. It offers Matterport digital twins, a 3D data platform to design, build, operate, promote, and understand spaces. The company offers Matterport Capture, an application that enables to capture depth, data, and imagery of a space using 3D cameras, 360 cameras, and iPhones; Matterport Workshop application to customize, add additional details, and share spaces; Matterport Showcase application for audience view and explore space in its final format; and Matterport VR to experience virtual reality.