Readystate Asset Management LP Sells 222,181 Shares of Matterport, Inc. (NASDAQ:MTTR)

Readystate Asset Management LP reduced its holdings in Matterport, Inc. (NASDAQ:MTTR) by 29.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 523,584 shares of the company’s stock after selling 222,181 shares during the quarter. Readystate Asset Management LP owned 0.16% of Matterport worth $2,356,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. bought a new stake in Matterport during the 1st quarter worth approximately $25,000. Redwood Wealth Management Group LLC acquired a new position in shares of Matterport in the second quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Matterport during the third quarter worth $30,000. Cetera Advisors LLC acquired a new stake in shares of Matterport during the first quarter worth $44,000. Finally, Virtu Financial LLC lifted its position in Matterport by 31.9% in the 1st quarter. Virtu Financial LLC now owns 20,568 shares of the company’s stock valued at $46,000 after acquiring an additional 4,969 shares in the last quarter. Institutional investors and hedge funds own 36.96% of the company’s stock.

Insider Transactions at Matterport

In related news, CRO Jay Remley sold 82,229 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 value of $388,943.17. Following the sale, the executive now owns 1,408,626 shares of the company’s stock, valued at approximately $6,662,800.98. The trade was a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.47, for a total value of $111,750.00. Following the transaction, the chief financial officer now directly owns 1,518,751 shares of the company’s stock, valued at $6,788,816.97. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 675,935 shares of company stock valued at $3,187,383 in the last ninety days. 17.50% of the stock is currently owned by corporate insiders.

Matterport Stock Up 0.6 %

Shares of NASDAQ MTTR opened at $4.75 on Thursday. The company has a fifty day moving average price of $4.70 and a 200 day moving average price of $4.45. Matterport, Inc. has a 1-year low of $1.73 and a 1-year high of $4.99.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Matterport had a negative return on equity of 32.19% and a negative net margin of 157.21%. The company had revenue of $43.79 million during the quarter, compared to analysts’ expectations of $43.91 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. Matterport’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Matterport, Inc. will post -0.44 earnings per share for the current fiscal year.

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.