Matterport (NASDAQ:MTTR) Hits New 12-Month High – Here’s Why

Shares of Matterport, Inc. (NASDAQ:MTTR) reached a new 52-week high on Wednesday . The stock traded as high as $5.46 and last traded at $5.44, with a volume of 9097476 shares. The stock had previously closed at $5.40.

Matterport Trading Up 0.7 %

The firm has a market capitalization of $1.76 billion, a P/E ratio of -6.55 and a beta of 1.06. The company has a 50 day simple moving average of $5.07 and a two-hundred day simple moving average of $4.77.

Insider Activity at Matterport

In other news, CRO Jay Remley sold 82,229 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $388,943.17. Following the completion of the transaction, the executive now owns 1,408,626 shares in the company, valued at $6,662,800.98. This trade represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Raymond J. Pittman sold 358,607 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $1,696,211.11. Following the completion of the sale, the chief executive officer now owns 4,176,241 shares in the company, valued at $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. Over the last ninety days, insiders sold 645,163 shares of company stock valued at $3,051,621. Corporate insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MTTR. Vanguard Group Inc. lifted its position in Matterport by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 27,706,444 shares of the company’s stock valued at $131,329,000 after purchasing an additional 578,754 shares during the last quarter. Geode Capital Management LLC grew its position in Matterport by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 6,568,596 shares of the company’s stock worth $31,142,000 after acquiring an additional 34,434 shares in the last quarter. Alliancebernstein L.P. increased its stake in Matterport by 2.1% during the fourth quarter. Alliancebernstein L.P. now owns 5,386,913 shares of the company’s stock worth $25,534,000 after acquiring an additional 111,613 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Matterport by 8,366.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 5,305,154 shares of the company’s stock valued at $25,146,000 after purchasing an additional 5,242,493 shares during the period. Finally, AQR Arbitrage LLC lifted its stake in shares of Matterport by 5.5% in the 4th quarter. AQR Arbitrage LLC now owns 3,721,034 shares of the company’s stock valued at $17,638,000 after purchasing an additional 194,468 shares during the last quarter. 36.96% of the stock is owned by hedge funds and other institutional investors.

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.