Matterport (NASDAQ:MTTR) Hits New 12-Month High – Should You Buy?

Shares of Matterport, Inc. (NASDAQ:MTTR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.24 and last traded at $5.24, with a volume of 372540 shares. The stock had previously closed at $5.21.

Matterport Stock Performance

The company has a market cap of $1.69 billion, a P/E ratio of -6.30 and a beta of 1.05. The business’s fifty day moving average is $4.89 and its two-hundred day moving average is $4.63.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings results 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 analyst estimates of $43.91 million. Matterport had a negative return on equity of 32.19% and a negative net margin of 157.21%. Matterport’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) earnings per share. Analysts expect that Matterport, Inc. will post -0.44 EPS for the current fiscal year.

Insider Activity at Matterport

In related news, CEO Raymond J. Pittman sold 358,607 shares of Matterport 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 transaction, the chief executive officer now directly owns 4,176,241 shares of the company’s stock, valued at $19,753,619.93. This trade represents a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Jay Remley sold 82,229 shares of the company’s stock in a transaction on 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. This represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 645,163 shares of company stock worth $3,051,621 over the last three months. 17.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matterport

A number of institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc bought a new stake in shares of Matterport in the 4th quarter valued at about $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Matterport during the third quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of 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 purchasing an additional 2,618 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Matterport by 111.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,664 shares of the company’s stock worth $97,000 after purchasing an additional 11,403 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new position in Matterport during the 3rd quarter worth $120,000. 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.