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

Matterport, Inc. (NASDAQ:MTTR - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.25 and last traded at $5.25, with a volume of 1088112 shares trading hands. The stock had previously closed at $5.21.

Matterport Price Performance

The business's 50 day moving average price is $4.95 and its 200 day moving average price is $4.67. The stock has a market capitalization of $1.70 billion, a P/E ratio of -6.36 and a beta of 1.06.

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

Insider Activity at Matterport

In related 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 transaction of $402,120.95. Following the transaction, the chief technology officer now owns 608,744 shares in the company, valued at approximately $2,879,359.12. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Daniel Fay sold 119,312 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $564,345.76. Following the completion of the sale, the chief financial officer now owns 1,690,458 shares of the company's stock, valued at $7,995,866.34. The trade was a 6.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 645,163 shares of company stock worth $3,051,621. 17.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matterport

A number of hedge funds have recently bought and sold shares of MTTR. Versant Capital Management Inc bought a new stake in shares of Matterport in the 4th quarter worth about $29,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Matterport in the third quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Matterport in the fourth quarter worth approximately $34,000. CIBC Asset Management Inc bought a new stake in shares of Matterport during the 4th quarter worth approximately $50,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Matterport by 23.0% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company's stock valued at $63,000 after acquiring an additional 2,618 shares during the period. 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.