Matterport, Inc. (NASDAQ:MTTR – Get Free Report)’s share price was down 4.6% during trading on Friday . The company traded as low as $1.76 and last traded at $1.78. Approximately 4,527,828 shares changed hands during trading, an increase of 98% from the average daily volume of 2,287,310 shares. The stock had previously closed at $1.86.
Analysts Set New Price Targets
A number of equities analysts have recently commented on MTTR shares. BTIG Research started coverage on Matterport in a research report on Friday, January 19th. They set a “neutral” rating for the company. Wedbush lowered their price target on Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Matterport in a report on Wednesday, February 21st.
Matterport Stock Down 4.8 %
The stock has a fifty day moving average of $2.23 and a 200-day moving average of $2.35. The stock has a market capitalization of $550.31 million, a price-to-earnings ratio of -2.68 and a beta of 1.72.
Matterport (NASDAQ:MTTR – Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. The company had revenue of $39.55 million during the quarter, compared to analysts’ expectations of $40.11 million. On average, equities analysts forecast that Matterport, Inc. will post -0.45 EPS for the current fiscal year.
Insider Buying and Selling at Matterport
In other news, CRO Jay Remley sold 13,261 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total transaction of $25,726.34. Following the completion of the sale, the executive now owns 1,038,563 shares in the company, valued at $2,014,812.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Jay Remley sold 13,261 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total transaction of $25,726.34. Following the completion of the sale, the executive now owns 1,038,563 shares in the company, valued at $2,014,812.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Zinn sold 58,142 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $2.02, for a total value of $117,446.84. Following the sale, the insider now owns 396,121 shares of the company’s stock, valued at approximately $800,164.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 437,909 shares of company stock worth $893,572. 16.10% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Matterport by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 23,886,410 shares of the company’s stock worth $64,254,000 after acquiring an additional 503,338 shares during the period. Virtu Financial LLC acquired a new stake in Matterport in the fourth quarter valued at $42,000. Clarity Capital Partners LLC acquired a new stake in Matterport in the fourth quarter valued at $74,000. Moneta Group Investment Advisors LLC acquired a new stake in Matterport in the fourth quarter valued at $62,000. Finally, Legal & General Group Plc grew its holdings in Matterport by 11.3% in the fourth quarter. Legal & General Group Plc now owns 229,240 shares of the company’s stock valued at $617,000 after purchasing an additional 23,238 shares during the last quarter. Institutional investors and hedge funds own 30.52% of the company’s stock.
Matterport Company Profile
Matterport, Inc, a spatial data company, focuses on digitization and datafication of the built world. The company offers Matterport Capture Services, a fully managed solution for enterprise subscribers; Smartphone Capture, a smartphone capture solution for both iOS and Android; Matterport Pro3, a 3D camera that scans properties; Matterport Pro2, a 3D camera that captures spaces; and 360 Cameras.