Matterport (NASDAQ:MTTR) Sets New 52-Week High – Still a Buy?

Matterport, Inc. (NASDAQ:MTTR)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $5.36 and last traded at $5.20, with a volume of 626 shares changing hands. The stock had previously closed at $5.22.

Matterport Trading Up 0.8 %

The firm’s fifty day simple moving average is $5.01 and its two-hundred day simple moving average is $4.71.

Matterport (NASDAQ:MTTR) last released its earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $43.79 million for 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%. Matterport’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) EPS. As a group, equities research analysts forecast that Matterport, Inc. will post -0.44 EPS for the current fiscal year.

Insider Transactions at Matterport

In related news, CTO Japjit Tulsi sold 85,015 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $402,120.95. Following the transaction, the chief technology officer now directly owns 608,744 shares of the company’s stock, valued at approximately $2,879,359.12. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Raymond J. Pittman sold 358,607 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total transaction of $1,696,211.11. Following the sale, the chief executive officer now directly owns 4,176,241 shares of the company’s stock, valued at approximately $19,753,619.93. This trade represents a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 645,163 shares of company stock valued at $3,051,621 over the last 90 days. Company insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Matterport

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in Matterport during the fourth quarter valued at $29,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Matterport during the 3rd quarter valued at about $30,000. Vestcor Inc bought a new position in shares of Matterport in the 4th quarter valued at about $33,000. SBI Securities Co. Ltd. purchased a new position in Matterport in the fourth quarter worth about $34,000. Finally, CIBC Asset Management Inc bought a new stake in Matterport during the fourth quarter worth approximately $50,000. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

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.