Matterport (NASDAQ:MTTR) Shares Gap Up to $1.90

Matterport, Inc. (NASDAQ:MTTR)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $1.90, but opened at $1.98. Matterport shares last traded at $2.02, with a volume of 533,025 shares traded.

Analyst Ratings Changes

MTTR has been the subject of a number of recent research reports. Wedbush decreased their price target on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Northland Securities initiated coverage on shares of Matterport in a research note on Thursday. They set an “outperform” rating and a $3.50 price target for the company. BTIG Research initiated coverage on shares of Matterport in a research note on Friday, January 19th. They set a “neutral” rating for the company. Finally, Piper Sandler reiterated a “neutral” rating and set a $3.00 price target on shares of Matterport in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.40.

Matterport Stock Performance

The company has a market cap of $600.06 million, a PE ratio of -2.92 and a beta of 1.73. The stock’s 50-day simple moving average is $2.10 and its 200 day simple moving average is $2.29.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $39.55 million during the quarter, compared to the consensus estimate of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. On average, sell-side analysts predict that Matterport, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the transaction, the chief financial officer now 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 accessible through the SEC website. In other news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the transaction, the chief financial officer now 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 accessible through the SEC website. Also, CEO Raymond J. Pittman sold 72,096 shares of the stock in a transaction dated 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 approximately $6,818,530.20. The disclosure for this sale can be found here. Insiders sold 437,909 shares of company stock worth $884,072 in the last 90 days. 16.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matterport

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Matterport by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 23,886,410 shares of the company’s stock valued at $64,254,000 after acquiring an additional 503,338 shares during the last quarter. BlackRock Inc. grew its stake in Matterport by 17.0% in the 2nd quarter. BlackRock Inc. now owns 21,239,174 shares of the company’s stock valued at $66,903,000 after acquiring an additional 3,084,806 shares during the last quarter. State Street Corp grew its stake in Matterport by 16.0% in the 2nd quarter. State Street Corp now owns 6,014,887 shares of the company’s stock valued at $18,947,000 after acquiring an additional 829,437 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Matterport by 46.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,672,781 shares of the company’s stock valued at $15,261,000 after acquiring an additional 1,794,853 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Matterport by 13.9% in the 2nd quarter. Geode Capital Management LLC now owns 5,100,516 shares of the company’s stock valued at $16,077,000 after acquiring an additional 623,701 shares during the last quarter. Hedge funds and other 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.