Matterport (NASDAQ:MTTR) Shares Down 3.6%

Matterport, Inc. (NASDAQ:MTTR) shares dropped 3.6% during mid-day trading on Monday . The stock traded as low as $4.28 and last traded at $4.31. Approximately 240,842 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 3,484,233 shares. The stock had previously closed at $4.47.

Wall Street Analyst Weigh In

MTTR has been the subject of several recent research reports. Piper Sandler boosted their price target on Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Northland Securities restated a “market perform” rating and issued a $5.50 price target on shares of Matterport in a research note on Tuesday, April 23rd. Finally, Loop Capital restated a “hold” rating and issued a $5.50 price target (up from $5.00) on shares of Matterport in a research note on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.50.

Matterport Trading Down 1.1 %

The business has a 50-day moving average price of $4.36 and a two-hundred day moving average price of $2.98.

Matterport (NASDAQ:MTTR) last released its earnings results on Monday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Matterport had a negative return on equity of 33.59% and a negative net margin of 113.62%. The firm had revenue of $39.87 million during the quarter, compared to the consensus estimate of $39.98 million. On average, sell-side analysts anticipate that Matterport, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Peter Presunka sold 7,583 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 92,755 shares in the company, valued at approximately $409,049.55. The sale was disclosed in a filing with the SEC, which is available through this link. In other Matterport news, CAO Peter Presunka sold 7,583 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.41, for a total value of $33,441.03. Following the completion of the transaction, the chief accounting officer now owns 92,755 shares of the company’s stock, valued at approximately $409,049.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $4.60, for a total value of $115,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,507,482 shares of the company’s stock, valued at approximately $6,934,417.20. The disclosure for this sale can be found here. Insiders sold a total of 450,645 shares of company stock worth $1,992,094 in the last ninety days. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Matterport

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Matterport by 2.2% in 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 period. Exchange Traded Concepts LLC increased its stake in shares of Matterport by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,221,465 shares of the company’s stock valued at $8,666,000 after buying an additional 126,052 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Matterport by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock valued at $4,046,000 after buying an additional 90,581 shares during the period. G2 Investment Partners Management LLC boosted its position in shares of Matterport by 136.7% during the 4th quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock valued at $3,757,000 after purchasing an additional 806,528 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Matterport by 1.6% during the 1st quarter. Swiss National Bank now owns 512,900 shares of the company’s stock valued at $1,159,000 after purchasing an additional 8,300 shares in the last quarter. Institutional investors and hedge funds own 36.96% of the company’s stock.

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.