Matterport (NASDAQ:MTTR) Hits New 52-Week High – Still a Buy?

Matterport, Inc. (NASDAQ:MTTR) shares reached a new 52-week high on Tuesday . The company traded as high as $5.24 and last traded at $5.24, with a volume of 372540 shares changing hands. The stock had previously closed at $5.21.

Matterport Price Performance

The business’s fifty day simple moving average is $4.91 and its two-hundred day simple moving average is $4.64. The company has a market cap of $1.68 billion, a PE ratio of -6.26 and a beta of 1.05.

Matterport (NASDAQ:MTTR) last announced 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 firm had revenue of $43.79 million during the quarter, compared to analyst estimates of $43.91 million. Matterport had a negative return on equity of 32.19% and a negative net margin of 157.21%. Matterport’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. As a group, analysts predict that Matterport, Inc. will post -0.44 EPS for the current year.

Insider Transactions at Matterport

In other Matterport news, CTO Japjit Tulsi sold 85,015 shares of the business’s 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 completion of the sale, the chief technology officer now directly owns 608,744 shares in the company, valued at approximately $2,879,359.12. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jay Remley sold 82,229 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total value of $388,943.17. Following the transaction, the executive now directly owns 1,408,626 shares of the company’s stock, valued at $6,662,800.98. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 645,163 shares of company stock valued at $3,051,621 in the last three months. 17.50% of the stock is currently owned by company insiders.

Institutional Trading of Matterport

Several large investors have recently made changes to their positions in MTTR. Versant Capital Management Inc purchased a new position in Matterport in the 4th quarter valued at $29,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Matterport in the third quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Matterport by 23.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company’s stock worth $63,000 after buying an additional 2,618 shares in the last quarter. Simplicity Wealth LLC acquired a new position in Matterport during the third quarter worth about $120,000. Finally, Synergy Asset Management LLC grew its stake in Matterport by 100.0% during the 4th quarter. Synergy Asset Management LLC now owns 32,000 shares of the company’s stock valued at $150,000 after acquiring an additional 16,000 shares in 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.