Matterport (NASDAQ:MTTR) Sets New 1-Year High – Here’s Why

Shares of Matterport, Inc. (NASDAQ:MTTR) reached a new 52-week high on Wednesday . The company traded as high as $5.40 and last traded at $5.45, with a volume of 1706501 shares. The stock had previously closed at $5.28.

Matterport Stock Up 2.7 %

The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -6.54 and a beta of 1.06. The business has a 50-day moving average of $5.03 and a two-hundred day moving average of $4.73.

Insider Buying and Selling

In other Matterport news, CTO Japjit Tulsi sold 85,015 shares of Matterport stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $402,120.95. Following the sale, the chief technology officer now directly owns 608,744 shares of the company’s stock, valued at approximately $2,879,359.12. The trade was a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raymond J. Pittman sold 358,607 shares of Matterport stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total transaction 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 $19,753,619.93. This trade represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 645,163 shares of company stock valued at $3,051,621 over the last three months. 17.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MTTR. Creative Planning raised its stake in shares of Matterport by 29.8% in the third quarter. Creative Planning now owns 67,622 shares of the company’s stock valued at $304,000 after acquiring an additional 15,534 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Matterport in the 3rd quarter worth approximately $30,000. State of New Jersey Common Pension Fund D bought a new position in Matterport in the 3rd quarter worth approximately $2,015,000. Wolverine Asset Management LLC raised its position in Matterport by 16.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 119,065 shares of the company’s stock worth $536,000 after purchasing an additional 17,000 shares during the last quarter. Finally, LMR Partners LLP bought a new position in Matterport in the 3rd quarter worth approximately $1,877,000. Institutional investors own 36.96% of the company’s stock.

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.