Synergy Asset Management LLC Increases Stake in Matterport, Inc. (NASDAQ:MTTR)

Synergy Asset Management LLC grew its stake in shares of Matterport, Inc. (NASDAQ:MTTR) by 100.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 32,000 shares of the company’s stock after buying an additional 16,000 shares during the quarter. Synergy Asset Management LLC’s holdings in Matterport were worth $150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MTTR. JPMorgan Chase & Co. increased its holdings in Matterport by 116.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,967,215 shares of the company’s stock valued at $8,852,000 after purchasing an additional 1,057,537 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Matterport by 14.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,312,945 shares of the company’s stock valued at $10,408,000 after buying an additional 288,544 shares during the period. Alpine Associates Management Inc. raised its holdings in shares of Matterport by 57.2% during the third quarter. Alpine Associates Management Inc. now owns 2,045,682 shares of the company’s stock valued at $9,206,000 after acquiring an additional 744,582 shares in the last quarter. Western Standard LLC purchased a new stake in Matterport in the third quarter worth $3,322,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Matterport in the second quarter valued at $3,142,000. Institutional investors own 36.96% of the company’s stock.

Insider Activity

In related news, CRO Jay Remley sold 82,229 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.73, for a total value of $388,943.17. Following the completion of the transaction, the executive now directly owns 1,408,626 shares in the company, valued at $6,662,800.98. This trade represents a 5.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Raymond J. Pittman sold 358,607 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 4,176,241 shares in the company, valued at $19,753,619.93. The trade was a 7.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 645,163 shares of company stock worth $3,051,621 in the last quarter. 17.50% of the stock is owned by company insiders.

Matterport Trading Down 0.4 %

Shares of Matterport stock opened at $5.16 on Friday. The company’s fifty day simple moving average is $4.91 and its two-hundred day simple moving average is $4.64. Matterport, Inc. has a 12-month low of $1.73 and a 12-month high of $5.25. The company has a market cap of $1.67 billion, a P/E ratio of -6.22 and a beta of 1.05.

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

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.