Matterport (NASDAQ:MTTR) Sees Unusually-High Trading Volume

Shares of Matterport, Inc. (NASDAQ:MTTR) saw an uptick in trading volume on Thursday . 2,735,386 shares changed hands during trading, an increase of 12% from the previous session’s volume of 2,438,111 shares.The stock last traded at $2.33 and had previously closed at $1.95.

Analyst Ratings Changes

Several brokerages recently weighed in on MTTR. BTIG Research began coverage on shares of Matterport in a research report on Friday, January 19th. They set a “neutral” rating for the company. Piper Sandler restated a “neutral” rating and set a $3.00 target price on shares of Matterport in a research note on Wednesday, February 21st. Finally, Wedbush reduced their target price on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd.

Matterport Stock Performance

The stock has a market capitalization of $685.56 million, a P/E ratio of -3.44 and a beta of 1.72. The business’s fifty day moving average price is $2.15 and its two-hundred day moving average price is $2.31.

Matterport (NASDAQ:MTTR) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $39.55 million during the quarter, compared to analysts’ expectations of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. As a group, analysts forecast that Matterport, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at Matterport

In related news, CEO Raymond J. Pittman sold 72,096 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $2.02, for a total transaction of $145,633.92. Following the sale, the chief executive officer now owns 3,375,510 shares in the company, valued at $6,818,530.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Raymond J. Pittman sold 69,539 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total transaction of $134,905.66. Following the completion of the sale, the chief executive officer now directly owns 3,231,873 shares in the company, valued at $6,269,833.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Raymond J. Pittman sold 72,096 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $145,633.92. Following the sale, the chief executive officer now owns 3,375,510 shares of the company’s stock, valued at $6,818,530.20. The disclosure for this sale can be found here. Insiders have sold 437,909 shares of company stock worth $893,572 over the last 90 days. 16.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Matterport by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 23,886,410 shares of the company’s stock valued at $64,254,000 after purchasing an additional 503,338 shares in the last quarter. BlackRock Inc. lifted its stake in Matterport by 17.0% in the second quarter. BlackRock Inc. now owns 21,239,174 shares of the company’s stock worth $66,903,000 after acquiring an additional 3,084,806 shares during the last quarter. State Street Corp lifted its stake in Matterport by 16.0% in the second quarter. State Street Corp now owns 6,014,887 shares of the company’s stock worth $18,947,000 after acquiring an additional 829,437 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Matterport by 46.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,672,781 shares of the company’s stock worth $15,261,000 after acquiring an additional 1,794,853 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Matterport by 13.9% in the second quarter. Geode Capital Management LLC now owns 5,100,516 shares of the company’s stock worth $16,077,000 after acquiring an additional 623,701 shares during the last quarter. Institutional investors and hedge funds own 36.96% of the company’s stock.

About Matterport

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.