Matterport (NASDAQ:MTTR) Shares Gap Down – Time to Sell?

Shares of Matterport, Inc. (NASDAQ:MTTR) gapped down before the market opened on Wednesday . The stock had previously closed at $4.83, but opened at $4.70. Matterport shares last traded at $4.70, with a volume of 160,662 shares changing hands.

Matterport Stock Performance

The business’s fifty day moving average price is $4.61 and its two-hundred day moving average price is $4.43. The firm has a market capitalization of $1.52 billion, a P/E ratio of -5.73 and a beta of 1.07.

Insider Activity at Matterport

In related news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.47, for a total transaction of $111,750.00. Following the transaction, the chief financial officer now directly owns 1,518,751 shares in the company, valued at $6,788,816.97. The trade was a 1.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew Zinn sold 31,808 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.41, for a total value of $140,273.28. Following the completion of the sale, the insider now owns 481,687 shares of the company’s stock, valued at approximately $2,124,239.67. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 469,671 shares of company stock valued at $2,045,982 over the last 90 days. Insiders own 17.50% of the company’s stock.

Institutional Trading of Matterport

Several large investors have recently bought and sold shares of MTTR. B. Riley Wealth Advisors Inc. acquired a new stake in Matterport during the 1st quarter worth about $25,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Matterport during the second quarter worth about $29,000. Allspring Global Investments Holdings LLC purchased a new stake in Matterport in the third quarter valued at approximately $30,000. Cetera Advisors LLC acquired a new position in Matterport in the 1st quarter worth approximately $44,000. Finally, Virtu Financial LLC raised its position in Matterport by 31.9% during the 1st quarter. Virtu Financial LLC now owns 20,568 shares of the company’s stock worth $46,000 after buying an additional 4,969 shares during the last quarter. Hedge funds and other institutional investors own 36.96% 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.