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

Shares of Matterport, Inc. (NASDAQ:MTTR) saw unusually-high trading volume on Friday . Approximately 1,832,062 shares traded hands 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 Down 2.2 %

The business’s fifty day moving average is $4.81 and its 200-day moving average is $4.57. The company has a market cap of $1.57 billion, a PE ratio of -5.84 and a beta of 1.05.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $43.79 million for the quarter, compared to analysts’ expectations of $43.91 million. Matterport had a negative net margin of 157.21% and a negative return on equity of 32.19%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) EPS. Analysts forecast that Matterport, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Matterport

In other Matterport news, CRO Jay Remley sold 82,229 shares of the firm’s 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 $388,943.17. Following the sale, the executive now owns 1,408,626 shares in the company, valued at approximately $6,662,800.98. This trade represents a 5.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Raymond J. Pittman sold 358,607 shares of the company’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 $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. The trade was a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 645,163 shares of company stock valued at $3,051,621. Company insiders own 17.50% of the company’s stock.

Institutional Trading of Matterport

Several institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc purchased a new stake in Matterport in the 4th quarter worth $29,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Matterport during the second quarter worth about $29,000. Allspring Global Investments Holdings LLC bought a new stake in Matterport during the 3rd quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in 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 purchasing an additional 2,618 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Matterport by 111.1% in 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 currently owned by 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.