Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Matterport, Inc. (NASDAQ:MTTR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Matterport, Inc. (NASDAQ:MTTR) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,734 shares of the company’s stock after buying an additional 9,793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Matterport were worth $188,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. 180 Wealth Advisors LLC acquired a new position in Matterport during the third quarter worth $27,000. Droms Strauss Advisors Inc. MO ADV purchased a new stake in shares of Matterport during the 4th quarter worth $27,000. Jump Financial LLC acquired a new position in shares of Matterport during the 3rd quarter worth $55,000. TFB Advisors LLC purchased a new position in shares of Matterport in the 4th quarter valued at about $64,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Matterport by 39.1% in the third quarter. Principal Financial Group Inc. now owns 37,071 shares of the company’s stock valued at $80,000 after purchasing an additional 10,427 shares during the period. 36.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Matterport

In other news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $2.10, for a total transaction of $52,500.00. Following the sale, the chief financial officer now owns 1,404,944 shares in the company, valued at $2,950,382.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Raymond J. Pittman sold 72,096 shares of the company’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 transaction of $145,633.92. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction on Friday, March 1st. The shares were sold at an average price of $2.10, for a total transaction of $52,500.00. Following the completion of the transaction, the chief financial officer now owns 1,404,944 shares in the company, valued at approximately $2,950,382.40. The disclosure for this sale can be found here. In the last three months, insiders sold 437,909 shares of company stock worth $942,572. Insiders own 17.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Northland Securities restated a “market perform” rating and set a $5.50 target price on shares of Matterport in a research report on Tuesday, April 23rd. Wedbush decreased their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Piper Sandler raised their price target on Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Loop Capital reiterated a “hold” rating and issued a $5.50 price objective (up from $5.00) on shares of Matterport in a research report on Tuesday, April 23rd. Finally, BTIG Research started coverage on shares of Matterport in a research note on Friday, January 19th. They issued a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.50.

Matterport Stock Down 0.2 %

MTTR opened at $4.49 on Wednesday. The business’s fifty day simple moving average is $2.55 and its 200 day simple moving average is $2.47. Matterport, Inc. has a 52 week low of $1.73 and a 52 week high of $4.99. The firm has a market cap of $1.41 billion, a P/E ratio of -6.80 and a beta of 1.11.

Matterport (NASDAQ:MTTR) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $39.55 million for 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%. As a group, equities analysts expect that Matterport, Inc. will post -0.45 EPS for the current fiscal year.

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.