Matterport (NASDAQ:MTTR) Sets New 52-Week High – Time to Buy?

Matterport, Inc. (NASDAQ:MTTR) hit a new 52-week high on Tuesday . The company traded as high as $5.17 and last traded at $5.15, with a volume of 1363708 shares. The stock had previously closed at $5.14.

Matterport Price Performance

The stock has a market capitalization of $1.69 billion, a P/E ratio of -6.29 and a beta of 1.05. The company has a 50 day simple moving average of $4.86 and a 200-day simple moving average of $4.61.

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

Insider Buying and Selling

In other news, CEO Raymond J. Pittman sold 358,607 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $1,696,211.11. Following the transaction, the chief executive officer now directly owns 4,176,241 shares in the company, valued at approximately $19,753,619.93. This represents a 7.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jay Remley sold 82,229 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.73, for a total value of $388,943.17. Following the transaction, the executive now directly owns 1,408,626 shares in the company, valued at approximately $6,662,800.98. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 645,163 shares of company stock worth $3,051,621. Corporate insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MTTR. The Manufacturers Life Insurance Company increased its position in shares of Matterport by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 103,824 shares of the company’s stock valued at $464,000 after buying an additional 2,550 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted 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 valued at $63,000 after acquiring an additional 2,618 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of 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 acquiring an additional 5,226 shares during the period. Versant Capital Management Inc bought a new position in shares of Matterport in the 4th quarter worth approximately $29,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Matterport in the 3rd quarter valued at approximately $30,000. Institutional investors own 36.96% of the company’s stock.

Matterport Company 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.