JPMorgan Chase & Co. Acquires 1,057,537 Shares of Matterport, Inc. (NASDAQ:MTTR)

JPMorgan Chase & Co. lifted its holdings in shares of Matterport, Inc. (NASDAQ:MTTR) by 116.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,967,215 shares of the company’s stock after purchasing an additional 1,057,537 shares during the period. JPMorgan Chase & Co.’s holdings in Matterport were worth $8,852,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MTTR. Redwood Wealth Management Group LLC bought a new position in Matterport in the second quarter worth approximately $29,000. Allspring Global Investments Holdings LLC bought a new position in Matterport in the third quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings 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 acquiring an additional 2,618 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Matterport by 111.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,664 shares of the company’s stock worth $97,000 after acquiring an additional 11,403 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new position in Matterport in the third quarter worth approximately $120,000. Institutional investors own 36.96% of the company’s stock.

Matterport Stock Performance

Shares of NASDAQ:MTTR opened at $4.79 on Tuesday. The business’s 50 day simple moving average is $4.81 and its two-hundred day simple moving average is $4.58. The firm has a market cap of $1.55 billion, a P/E ratio of -5.77 and a beta of 1.05. Matterport, Inc. has a 52-week low of $1.73 and a 52-week high of $5.00.

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

Insider Transactions at Matterport

In other news, CRO Jay Remley sold 82,229 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $388,943.17. Following the completion of the sale, the executive now directly owns 1,408,626 shares of the company’s stock, valued at $6,662,800.98. This 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 through this hyperlink. Also, CTO Japjit Tulsi sold 85,015 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $402,120.95. Following the completion of the sale, the chief technology officer now directly owns 608,744 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 645,163 shares of company stock valued at $3,051,621 over the last ninety days. 17.50% of the stock is currently owned by insiders.

Matterport 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.