Matterport (NASDAQ:MTTR) Sets New 12-Month High – Time to Buy?

Matterport, Inc. (NASDAQ:MTTR)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $5.00 and last traded at $5.00, with a volume of 242816 shares traded. The stock had previously closed at $4.95.

Matterport Stock Performance

The business’s 50-day moving average is $4.75 and its 200-day moving average is $4.47. The company has a market capitalization of $1.60 billion, a PE ratio of -5.96 and a beta of 1.06.

Matterport (NASDAQ:MTTR) last announced its earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Matterport had a negative net margin of 157.21% and a negative return on equity of 32.19%. The business had revenue of $43.79 million during the quarter, compared to the consensus estimate of $43.91 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that Matterport, Inc. will post -0.44 EPS for the current year.

Insider Buying and Selling at Matterport

In other Matterport news, CEO Raymond J. Pittman sold 358,607 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.73, for a total transaction of $1,696,211.11. Following the completion of the sale, the chief executive officer now directly owns 4,176,241 shares in the company, valued at approximately $19,753,619.93. This trade represents a 7.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Japjit Tulsi sold 85,015 shares of Matterport stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $402,120.95. Following the completion of the transaction, the chief technology officer now directly owns 608,744 shares of the company’s stock, valued at $2,879,359.12. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 670,163 shares of company stock worth $3,163,371. 17.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Matterport

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Redwood Wealth Management Group LLC purchased a new position in shares of Matterport in the second quarter worth $29,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Matterport in the third quarter worth $30,000. Cetera Advisors LLC purchased a new stake in Matterport during the first quarter valued at $44,000. Trellis Wealth Advisors LLC bought a new position in Matterport in the second quarter valued at about $49,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Matterport by 23.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company’s stock worth $63,000 after purchasing an additional 2,618 shares during the last quarter. 36.96% of the stock is owned by institutional investors.

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.