Matterport (NASDAQ:MTTR) Sees Strong Trading Volume – Time to Buy?

Matterport, Inc. (NASDAQ:MTTR) saw strong trading volume on Friday . 1,832,062 shares were traded during mid-day trading, a decline of 20% from the previous session’s volume of 2,297,235 shares.The stock last traded at $4.72 and had previously closed at $4.96.

Matterport Stock Performance

The firm has a market cap of $1.57 billion, a P/E ratio of -5.84 and a beta of 1.05. The firm’s fifty day simple moving average is $4.81 and its 200 day simple moving average is $4.57.

Matterport (NASDAQ:MTTR) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate 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 firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) EPS. On average, equities research analysts predict 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 358,607 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.73, for a total value of $1,696,211.11. Following the completion of the transaction, the chief executive officer now owns 4,176,241 shares of the company’s stock, valued at approximately $19,753,619.93. This trade represents a 7.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Daniel Fay sold 119,312 shares of Matterport stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $564,345.76. Following the completion of the transaction, the chief financial officer now owns 1,690,458 shares of the company’s stock, valued at approximately $7,995,866.34. This represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 645,163 shares of company stock worth $3,051,621. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Matterport

Several institutional investors have recently modified their holdings of MTTR. Redwood Wealth Management Group LLC bought a new position in shares of Matterport during the 2nd quarter valued at approximately $29,000. Versant Capital Management Inc bought a new position in Matterport during the fourth quarter valued at $29,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Matterport in the third quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Matterport by 23.0% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company’s stock worth $63,000 after acquiring an additional 2,618 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Matterport by 111.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,664 shares of the company’s stock worth $97,000 after purchasing an additional 11,403 shares during the period. 36.96% of the stock is owned by institutional investors.

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.