Matterport (NASDAQ:MTTR) Shares Gap Down – Time to Sell?

Matterport, Inc. (NASDAQ:MTTR) shares gapped down before the market opened on Monday . The stock had previously closed at $4.86, but opened at $4.75. Matterport shares last traded at $4.76, with a volume of 366,424 shares traded.

Matterport Price Performance

The company has a market cap of $1.52 billion, a PE ratio of -5.69 and a beta of 1.06. The stock has a 50 day simple moving average of $4.69 and a two-hundred day simple moving average of $4.45.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Matterport had a negative net margin of 157.21% and a negative return on equity of 32.19%. The company had revenue of $43.79 million for the quarter, compared to analyst estimates of $43.91 million. During the same period in the previous year, the business posted ($0.04) earnings per share. Matterport’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Matterport, Inc. will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Raymond J. Pittman sold 358,607 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total value of $1,696,211.11. Following the completion of the sale, the chief executive officer now owns 4,176,241 shares in the company, valued at approximately $19,753,619.93. This trade represents a 7.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Zinn sold 17,476 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $4.23, for a total transaction of $73,923.48. Following the transaction, the insider now directly owns 434,980 shares of the company’s stock, valued at $1,839,965.40. This represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 812,606 shares of company stock valued at $3,765,501. 17.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matterport

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Matterport by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 24,406,900 shares of the company’s stock valued at $55,160,000 after purchasing an additional 520,490 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Matterport by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,534,162 shares of the company’s stock worth $29,410,000 after buying an additional 471,641 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Matterport in the 2nd quarter worth about $27,598,000. Millennium Management LLC grew its stake in Matterport by 142.3% in the 2nd quarter. Millennium Management LLC now owns 3,021,453 shares of the company’s stock valued at $13,506,000 after acquiring an additional 1,774,442 shares during the last quarter. Finally, Water Island Capital LLC purchased a new position in Matterport during the 2nd quarter valued at about $11,722,000. Hedge funds and other institutional investors own 36.96% of the company’s stock.

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.