Matterport (NASDAQ:MTTR) Shares Down 3.6%

Matterport, Inc. (NASDAQ:MTTR)’s stock price fell 3.6% during trading on Monday . The company traded as low as $4.28 and last traded at $4.31. 240,842 shares traded hands during trading, a decline of 93% from the average session volume of 3,484,233 shares. The stock had previously closed at $4.47.

Wall Street Analyst Weigh In

A number of research firms have commented on MTTR. Piper Sandler raised their price target on Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a report on Monday, April 22nd. Northland Securities reaffirmed a “market perform” rating and issued a $5.50 target price on shares of Matterport in a report on Tuesday, April 23rd. Finally, Loop Capital reiterated a “hold” rating and issued a $5.50 price target (up previously from $5.00) on shares of Matterport in a research report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, Matterport currently has a consensus rating of “Hold” and an average price target of $4.50.

Matterport Stock Performance

The company has a 50-day simple moving average of $4.36 and a 200-day simple moving average of $2.98.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. Matterport had a negative net margin of 113.62% and a negative return on equity of 33.59%. The firm had revenue of $39.87 million during the quarter, compared to the consensus estimate of $39.98 million. As a group, equities research analysts forecast that Matterport, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, CEO Raymond J. Pittman sold 209,180 shares of Matterport stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.41, for a total transaction of $922,483.80. Following the completion of the sale, the chief executive officer now owns 3,695,530 shares of the company’s stock, valued at $16,297,287.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Raymond J. Pittman sold 209,180 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.41, for a total value of $922,483.80. Following the completion of the transaction, the chief executive officer now owns 3,695,530 shares of the company’s stock, valued at $16,297,287.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Peter Presunka sold 7,583 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.41, for a total transaction of $33,441.03. Following the completion of the transaction, the chief accounting officer now directly owns 92,755 shares of the company’s stock, valued at approximately $409,049.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 450,645 shares of company stock valued at $1,992,094. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Matterport

A number of large investors have recently made changes to their positions in the business. G2 Investment Partners Management LLC grew its holdings in shares of Matterport by 136.7% during the fourth quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock valued at $3,757,000 after buying an additional 806,528 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Matterport by 2.2% during the first quarter. Vanguard Group Inc. now owns 24,406,900 shares of the company’s stock valued at $55,160,000 after buying an additional 520,490 shares during the last quarter. IMC Chicago LLC purchased a new stake in shares of Matterport during the first quarter valued at $465,000. GSA Capital Partners LLP grew its holdings in shares of Matterport by 85.3% during the first quarter. GSA Capital Partners LLP now owns 389,185 shares of the company’s stock valued at $880,000 after buying an additional 179,174 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Matterport in the fourth quarter valued at $344,000. 36.96% of the stock is owned by institutional investors and hedge funds.

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.