Matterport (NASDAQ:MTTR) Research Coverage Started at Northland Securities

Northland Securities initiated coverage on shares of Matterport (NASDAQ:MTTR) in a research note published on Thursday morning, MarketBeat.com reports. The firm issued an outperform rating and a $3.50 target price on the stock.

MTTR has been the topic of a number of other research reports. Piper Sandler reiterated a neutral rating and issued a $3.00 target price on shares of Matterport in a research report on Wednesday, February 21st. Wedbush decreased their price target on shares of Matterport from $5.00 to $4.00 and set a neutral rating on the stock in a report on Thursday, February 22nd. Finally, BTIG Research began coverage on shares of Matterport in a research note on Friday, January 19th. They issued a neutral rating for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Matterport currently has a consensus rating of Hold and an average target price of $3.40.

Matterport Stock Performance

Shares of NASDAQ:MTTR opened at $2.05 on Thursday. The firm has a 50 day moving average of $2.10 and a 200-day moving average of $2.29. Matterport has a 12 month low of $1.74 and a 12 month high of $3.78.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. The business had revenue of $39.55 million for the quarter, compared to analysts’ expectations of $40.11 million. As a group, equities research analysts predict that Matterport will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Matterport

In related news, CEO Raymond J. Pittman sold 72,096 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $145,633.92. Following the completion of the transaction, the chief executive officer now owns 3,375,510 shares in the company, valued at approximately $6,818,530.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Raymond J. Pittman sold 72,096 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $145,633.92. Following the sale, the chief executive officer now owns 3,375,510 shares of the company’s stock, valued at $6,818,530.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Jay Remley sold 13,261 shares of Matterport stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total value of $25,726.34. Following the transaction, the executive now directly owns 1,038,563 shares in the company, valued at $2,014,812.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 437,909 shares of company stock worth $884,072. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Matterport

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Matterport by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 23,886,410 shares of the company’s stock worth $64,254,000 after purchasing an additional 503,338 shares during the last quarter. Virtu Financial LLC bought a new position in Matterport during the fourth quarter worth $42,000. Clarity Capital Partners LLC acquired a new position in Matterport in the fourth quarter valued at $74,000. Moneta Group Investment Advisors LLC bought a new stake in Matterport during the fourth quarter valued at $62,000. Finally, Legal & General Group Plc grew its holdings in Matterport by 11.3% during the 4th quarter. Legal & General Group Plc now owns 229,240 shares of the company’s stock worth $617,000 after acquiring an additional 23,238 shares during the period. 36.96% of the stock is owned by institutional investors and hedge funds.

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.