Matterport’s (MTTR) Market Perform Rating Reiterated at Northland Securities

Northland Securities reaffirmed their market perform rating on shares of Matterport (NASDAQ:MTTR) in a research report report published on Tuesday, Benzinga reports. Northland Securities currently has a $5.50 price target on the stock.

A number of other research analysts also recently issued reports on the stock. BTIG Research started coverage on shares of Matterport in a research note on Friday, January 19th. They issued a neutral rating for the company. Loop Capital reissued a hold rating and set a $5.50 price objective (up previously from $5.00) on shares of Matterport in a report on Tuesday. Piper Sandler raised their price objective on shares of Matterport from $3.00 to $5.50 and gave the stock a neutral rating in a report on Monday. Finally, Wedbush cut their price objective 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. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $4.50.

Matterport Stock Up 0.9 %

Shares of MTTR stock opened at $4.68 on Tuesday. The company has a 50-day moving average of $2.22 and a two-hundred day moving average of $2.34. Matterport has a 1-year low of $1.73 and a 1-year high of $4.99.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $40.11 million. As a group, analysts expect that Matterport will post -0.45 EPS for the current year.

Insider Buying and Selling at Matterport

In other Matterport 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 transaction, the chief executive officer now directly owns 3,375,510 shares of the company’s stock, valued at approximately $6,818,530.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $2.26, for a total transaction of $56,500.00. Following the sale, the chief financial officer now directly owns 1,404,944 shares in the company, valued at approximately $3,175,173.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Raymond J. Pittman sold 72,096 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $145,633.92. Following the sale, the chief executive officer now owns 3,375,510 shares in the company, valued at $6,818,530.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 437,909 shares of company stock valued at $884,072. 16.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matterport

Several institutional investors and hedge funds have recently made changes to their positions in MTTR. Vanguard Group Inc. raised its stake in Matterport by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock valued at $50,741,000 after purchasing an additional 306,958 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Matterport by 4.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,221,465 shares of the company’s stock valued at $8,666,000 after purchasing an additional 126,052 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Matterport by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock valued at $4,046,000 after purchasing an additional 90,581 shares during the last quarter. G2 Investment Partners Management LLC raised its stake in Matterport by 136.7% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock valued at $3,757,000 after purchasing an additional 806,528 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in Matterport by 8.1% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 909,172 shares of the company’s stock valued at $1,973,000 after purchasing an additional 68,030 shares during the last quarter. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

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.