Matterport (NASDAQ:MTTR) Shares Gap Down – Should You Sell?

Matterport, Inc. (NASDAQ:MTTR) gapped down prior to trading on Monday . The stock had previously closed at $4.86, but opened at $4.75. Matterport shares last traded at $4.76, with a volume of 366,424 shares.

Matterport Price Performance

The company has a market capitalization of $1.53 billion, a P/E ratio of -5.72 and a beta of 1.07. The stock’s 50 day simple moving average is $4.69 and its two-hundred day simple moving average is $4.45.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $43.79 million during the quarter, compared to analysts’ expectations of $43.91 million. Matterport had a negative net margin of 157.21% and a negative return on equity of 32.19%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. As a group, equities research analysts expect that Matterport, Inc. will post -0.44 earnings per share for the current year.

Insider Activity

In other Matterport news, insider Matthew Zinn sold 17,476 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $4.23, for a total transaction of $73,923.48. Following the sale, the insider now directly owns 434,980 shares in the company, valued at $1,839,965.40. This represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.47, for a total transaction of $111,750.00. Following the completion of the sale, the chief financial officer now owns 1,518,751 shares in the company, valued at approximately $6,788,816.97. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 469,671 shares of company stock worth $2,045,982 over the last quarter. 17.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matterport

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Matterport by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 24,406,900 shares of the company’s stock worth $55,160,000 after acquiring an additional 520,490 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Matterport by 41.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 249,592 shares of the company’s stock valued at $565,000 after acquiring an additional 73,188 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Matterport by 116.9% in the first quarter. Janus Henderson Group PLC now owns 208,743 shares of the company’s stock valued at $473,000 after acquiring an additional 112,495 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Matterport during the 1st quarter worth $25,000. Finally, Virtu Financial LLC grew its stake 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 buying an additional 4,969 shares in the last quarter. 36.96% of the stock is currently owned by institutional investors and hedge funds.

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.