Principal Financial Group Inc. Sells 10,856 Shares of Matterport, Inc. (NASDAQ:MTTR)

Principal Financial Group Inc. trimmed its position in shares of Matterport, Inc. (NASDAQ:MTTR) by 30.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,526 shares of the company’s stock after selling 10,856 shares during the quarter. Principal Financial Group Inc.’s holdings in Matterport were worth $110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTTR. Vanguard Group Inc. raised its holdings in Matterport by 2.2% in the first quarter. Vanguard Group Inc. now owns 24,406,900 shares of the company’s stock worth $55,160,000 after purchasing an additional 520,490 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Matterport during the first quarter valued at approximately $208,000. Price T Rowe Associates Inc. MD boosted its position in shares of Matterport by 41.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 249,592 shares of the company’s stock worth $565,000 after purchasing an additional 73,188 shares in the last quarter. Janus Henderson Group PLC increased its position in Matterport by 116.9% during the 1st quarter. Janus Henderson Group PLC now owns 208,743 shares of the company’s stock valued at $473,000 after buying an additional 112,495 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in Matterport in the 1st quarter worth about $25,000. Hedge funds and other institutional investors own 36.96% of the company’s stock.

Matterport Price Performance

MTTR stock opened at $4.89 on Wednesday. The business has a fifty day moving average price of $4.66 and a 200-day moving average price of $4.43. Matterport, Inc. has a 1-year low of $1.73 and a 1-year high of $4.99. The stock has a market capitalization of $1.58 billion, a P/E ratio of -5.89 and a beta of 1.07.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $43.79 million during the quarter, compared to analysts’ expectations of $43.91 million. Matterport had a negative return on equity of 32.19% and a negative net margin of 157.21%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) earnings per share. As a group, analysts anticipate that Matterport, Inc. will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Raymond J. Pittman sold 74,214 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $4.23, for a total transaction of $313,925.22. Following the transaction, the chief executive officer now directly owns 3,884,843 shares in the company, valued at approximately $16,432,885.89. This represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.47, for a total value of $111,750.00. Following the transaction, the chief financial officer now directly owns 1,518,751 shares in the company, valued at approximately $6,788,816.97. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 469,671 shares of company stock worth $2,045,982. Corporate insiders own 17.50% of the company’s stock.

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.