Matterport (NASDAQ:MTTR) Sets New 1-Year High – Still a Buy?

Matterport, Inc. (NASDAQ:MTTR)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $5.36 and last traded at $5.20, with a volume of 626 shares. The stock had previously closed at $5.22.

Matterport Price Performance

The company has a market cap of $1.68 billion, a price-to-earnings ratio of -6.27 and a beta of 1.06. The business’s fifty day moving average price is $5.00 and its 200 day moving average price is $4.70.

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

Insider Buying and Selling at Matterport

In other Matterport news, CTO Japjit Tulsi sold 85,015 shares of Matterport stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total value of $402,120.95. Following the completion of the sale, the chief technology officer now directly owns 608,744 shares of the company’s stock, valued at approximately $2,879,359.12. The trade was a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Raymond J. Pittman sold 358,607 shares of the 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 transaction, the chief executive officer now directly owns 4,176,241 shares in the company, valued at $19,753,619.93. This trade represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 645,163 shares of company stock valued at $3,051,621. 17.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in Matterport in the 4th quarter valued at about $29,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Matterport during the third quarter valued at approximately $30,000. Vestcor Inc bought a new stake in Matterport during the fourth quarter worth $33,000. SBI Securities Co. Ltd. bought a new stake in Matterport during the fourth quarter worth $34,000. Finally, CIBC Asset Management Inc purchased a new position in Matterport in the fourth quarter worth $50,000. 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.