Matterport (NASDAQ:MTTR) Shares Gap Up to $1.80

Matterport, Inc. (NASDAQ:MTTR) gapped up prior to trading on Tuesday . The stock had previously closed at $1.80, but opened at $1.86. Matterport shares last traded at $1.84, with a volume of 241,204 shares.

Analysts Set New Price Targets

Several equities research analysts recently commented on MTTR shares. Piper Sandler reissued a “neutral” rating and issued a $3.00 price target on shares of Matterport in a report on Wednesday, February 21st. Wedbush cut their price target on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Finally, BTIG Research started coverage on shares of Matterport in a report on Friday, January 19th. They issued a “neutral” rating for the company.

Matterport Price Performance

The stock’s 50-day moving average price is $2.15 and its 200 day moving average price is $2.31.

Matterport (NASDAQ:MTTR) last issued its earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $39.55 million during the quarter, compared to analysts’ expectations of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. Sell-side analysts anticipate that Matterport, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In related news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $2.63, for a total transaction of $65,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,212,379 shares in the company, valued at $3,188,556.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $2.63, for a total transaction of $65,750.00. Following the completion of the transaction, the chief financial officer now owns 1,212,379 shares of the company’s stock, valued at $3,188,556.77. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Jay Remley sold 13,261 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total transaction of $25,726.34. Following the transaction, the executive now directly owns 1,038,563 shares of the company’s stock, valued at approximately $2,014,812.22. The disclosure for this sale can be found here. Insiders sold 437,909 shares of company stock worth $893,572 over the last three months. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MTTR. Vanguard Group Inc. boosted its stake in shares of Matterport by 171.4% in the first quarter. Vanguard Group Inc. now owns 11,882,193 shares of the company’s stock valued at $96,483,000 after purchasing an additional 7,504,573 shares during the period. State Street Corp lifted its stake in Matterport by 460.3% in the second quarter. State Street Corp now owns 4,559,685 shares of the company’s stock worth $16,688,000 after acquiring an additional 3,745,958 shares during the last quarter. BlackRock Inc. lifted its stake in Matterport by 17.0% in the second quarter. BlackRock Inc. now owns 21,239,174 shares of the company’s stock worth $66,903,000 after acquiring an additional 3,084,806 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Matterport by 737.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,574,336 shares of the company’s stock worth $12,783,000 after acquiring an additional 1,821,154 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Matterport by 46.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,672,781 shares of the company’s stock worth $15,261,000 after acquiring an additional 1,794,853 shares during the last quarter. Hedge funds and other 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.