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

Matterport, Inc. (NASDAQ:MTTR) saw strong 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.

Wall Street Analysts Forecast Growth

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

Matterport Stock Up 13.1 %

The firm’s fifty day moving average price is $2.15 and its 200 day moving average price is $2.31. The stock has a market cap of $685.56 million, a PE ratio of -3.44 and a beta of 1.72.

Matterport (NASDAQ:MTTR) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $39.55 million for the quarter, compared to the consensus estimate 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 anticipate that Matterport, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $2.63, for a total value of $65,750.00. Following the sale, the chief financial officer now owns 1,212,379 shares of the company’s stock, valued at $3,188,556.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $2.63, for a total value of $65,750.00. Following the transaction, the chief financial officer now directly owns 1,212,379 shares in the company, valued at $3,188,556.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Jay Remley sold 13,261 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total transaction of $25,726.34. Following the completion of the transaction, the executive now owns 1,038,563 shares in the company, valued at $2,014,812.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 437,909 shares of company stock valued at $893,572. 16.10% of the stock is currently owned by company insiders.

Institutional Trading of Matterport

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Matterport by 2.2% in the 4th 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 during the last quarter. BlackRock Inc. raised its position in shares of Matterport by 17.0% in the 2nd quarter. BlackRock Inc. now owns 21,239,174 shares of the company’s stock valued at $66,903,000 after purchasing an additional 3,084,806 shares during the last quarter. State Street Corp raised its position in shares of Matterport by 16.0% in the 2nd quarter. State Street Corp now owns 6,014,887 shares of the company’s stock valued at $18,947,000 after purchasing an additional 829,437 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Matterport by 46.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,672,781 shares of the company’s stock valued at $15,261,000 after purchasing an additional 1,794,853 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Matterport by 13.9% in the 2nd quarter. Geode Capital Management LLC now owns 5,100,516 shares of the company’s stock valued at $16,077,000 after purchasing an additional 623,701 shares during the last quarter. 36.96% of the stock is owned by hedge funds and other 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.