SpiderRock Advisors LLC Makes New Investment in Matterport, Inc. (NASDAQ:MTTR)

SpiderRock Advisors LLC acquired a new stake in shares of Matterport, Inc. (NASDAQ:MTTR) during the first quarter, HoldingsChannel reports. The fund acquired 120,000 shares of the company’s stock, valued at approximately $271,000.

A number of other hedge funds also recently made changes to their positions in the stock. G2 Investment Partners Management LLC lifted its holdings in Matterport by 136.7% during the fourth quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock valued at $3,757,000 after purchasing an additional 806,528 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Matterport by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock worth $50,741,000 after buying an additional 306,958 shares during the period. IMC Chicago LLC purchased a new stake in Matterport in the 1st quarter worth $465,000. Dynamic Technology Lab Private Ltd bought a new stake in Matterport during the fourth quarter valued at about $344,000. Finally, Apollon Wealth Management LLC bought a new stake in Matterport during the fourth quarter valued at about $28,000. 36.96% of the stock is currently owned by institutional investors.

Matterport Trading Down 2.3 %

MTTR traded down $0.10 during trading hours on Friday, hitting $4.24. The company’s stock had a trading volume of 1,073,006 shares, compared to its average volume of 3,447,152. Matterport, Inc. has a 12 month low of $1.73 and a 12 month high of $4.99. The business’s 50-day moving average price is $4.33 and its 200-day moving average price is $3.02. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -7.10 and a beta of 1.07.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Matterport had a negative net margin of 113.62% and a negative return on equity of 33.59%. The firm had revenue of $39.87 million during the quarter, compared to the consensus estimate of $39.98 million. On average, analysts forecast that Matterport, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler lifted their target price on Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Northland Securities reaffirmed a “market perform” rating and set a $5.50 target price on shares of Matterport in a research note on Tuesday, April 23rd. Finally, Loop Capital reiterated a “hold” rating and issued a $5.50 price target (up from $5.00) on shares of Matterport in a report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.50.

Insider Activity

In other news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $4.60, for a total value of $115,000.00. Following the sale, the chief financial officer now owns 1,507,482 shares of the company’s stock, valued at $6,934,417.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $4.60, for a total transaction of $115,000.00. Following the completion of the transaction, the chief financial officer now owns 1,507,482 shares in the company, valued at approximately $6,934,417.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Peter Presunka sold 7,583 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.41, for a total transaction of $33,441.03. Following the completion of the sale, the chief accounting officer now directly owns 92,755 shares of the company’s stock, valued at $409,049.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 475,645 shares of company stock valued at $2,100,344. 17.50% of the stock is currently owned by insiders.

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.