Matterport (NASDAQ:MTTR) Trading Down 5% – Should You Sell?

Matterport, Inc. (NASDAQ:MTTR)’s share price was down 5% during mid-day trading on Wednesday . The stock traded as low as $4.56 and last traded at $4.57. Approximately 320,619 shares changed hands during trading, a decline of 88% from the average daily volume of 2,768,005 shares. The stock had previously closed at $4.81.

Matterport Trading Up 1.7 %

The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -7.78 and a beta of 1.07. The company’s 50 day simple moving average is $4.52 and its 200-day simple moving average is $4.23.

Matterport (NASDAQ:MTTR) last released its earnings results on Tuesday, August 6th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $44.38 million. Matterport had a negative net margin of 164.17% and a negative return on equity of 32.22%. Matterport’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) EPS. Sell-side analysts anticipate that Matterport, Inc. will post -0.44 EPS for the current year.

Insider Activity

In other news, CEO Raymond J. Pittman sold 135,083 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.41, for a total value of $595,716.03. Following the completion of the transaction, the chief executive officer now directly owns 4,083,196 shares in the company, valued at approximately $18,006,894.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Matterport news, CEO Raymond J. Pittman sold 74,214 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $4.23, for a total transaction of $313,925.22. Following the transaction, the chief executive officer now directly owns 3,884,843 shares in the company, valued at $16,432,885.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Raymond J. Pittman sold 135,083 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.41, for a total transaction of $595,716.03. Following the completion of the sale, the chief executive officer now directly owns 4,083,196 shares of the company’s stock, valued at $18,006,894.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 494,671 shares of company stock worth $2,155,982 over the last 90 days. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Matterport

Large investors have recently modified their holdings of the stock. Redwood Wealth Management Group LLC bought a new position in Matterport during the 2nd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Matterport during the third quarter worth $30,000. Trellis Wealth Advisors LLC acquired a new stake in shares of Matterport during the second quarter worth $49,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Matterport in the 2nd quarter worth about $51,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Matterport during the 1st quarter valued at about $25,000. Institutional investors 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.