Alpine Associates Management Inc. Buys 744,582 Shares of Matterport, Inc. (NASDAQ:MTTR)

Alpine Associates Management Inc. boosted its stake in Matterport, Inc. (NASDAQ:MTTR) by 57.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,045,682 shares of the company’s stock after acquiring an additional 744,582 shares during the quarter. Alpine Associates Management Inc. owned 0.64% of Matterport worth $9,206,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in Matterport by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,824 shares of the company’s stock valued at $464,000 after acquiring an additional 2,550 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Matterport by 23.0% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company’s stock worth $63,000 after buying an additional 2,618 shares in the last quarter. Virtu Financial LLC lifted its position in Matterport by 31.9% during the 1st quarter. Virtu Financial LLC now owns 20,568 shares of the company’s stock worth $46,000 after buying an additional 4,969 shares in the last quarter. Blair William & Co. IL lifted its position in Matterport by 3.2% during the 2nd quarter. Blair William & Co. IL now owns 168,473 shares of the company’s stock worth $753,000 after buying an additional 5,226 shares in the last quarter. Finally, Choreo LLC lifted its position in Matterport by 23.9% during the 2nd quarter. Choreo LLC now owns 30,772 shares of the company’s stock worth $135,000 after buying an additional 5,939 shares in the last quarter. 36.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CTO Japjit Tulsi sold 17,599 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $4.23, for a total transaction of $74,443.77. Following the transaction, the chief technology officer now directly owns 539,354 shares in the company, valued at $2,281,467.42. The trade was a 3.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Daniel Fay sold 69,943 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.42, for a total transaction of $309,148.06. Following the transaction, the chief financial officer now owns 1,618,120 shares in the company, valued at $7,152,090.40. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 469,671 shares of company stock valued at $2,045,982 in the last three months. 17.50% of the stock is currently owned by corporate insiders.

Matterport Price Performance

Shares of NASDAQ:MTTR opened at $4.68 on Wednesday. The company’s 50-day moving average price is $4.64 and its two-hundred day moving average price is $4.43. Matterport, Inc. has a one year low of $1.73 and a one year high of $4.99. The stock has a market capitalization of $1.51 billion, a PE ratio of -5.64 and a beta of 1.07.

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

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.