Matterport (NASDAQ:MTTR) Reaches New 12-Month High - Time to Buy?

Matterport, Inc. (NASDAQ:MTTR - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $5.03 and last traded at $5.03, with a volume of 1446696 shares trading hands. The stock had previously closed at $4.83.

Matterport Trading Up 4.6 %

The firm has a market cap of $1.63 billion, a P/E ratio of -6.08 and a beta of 1.05. The stock's fifty day moving average is $4.82 and its two-hundred day moving average is $4.58.

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

Insider Activity

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 transaction of $1,696,211.11. Following 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 filing with the SEC, which can be accessed through this link. Also, CFO James Daniel Fay sold 119,312 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $564,345.76. Following the completion of the transaction, the chief financial officer now owns 1,690,458 shares of the company's stock, valued at $7,995,866.34. This trade represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 645,163 shares of company stock worth $3,051,621. 17.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matterport

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of Matterport by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 78,336 shares of the company's stock valued at $350,000 after buying an additional 6,934 shares in the last quarter. Choreo LLC grew its position in Matterport by 23.9% during the second quarter. Choreo LLC now owns 30,772 shares of the company's stock valued at $135,000 after acquiring an additional 5,939 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Matterport by 25.3% during the second quarter. American Century Companies Inc. now owns 373,478 shares of the company's stock worth $1,669,000 after acquiring an additional 75,403 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Matterport by 39.0% in the 2nd quarter. Renaissance Technologies LLC now owns 189,811 shares of the company's stock worth $848,000 after acquiring an additional 53,300 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Matterport by 111.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,664 shares of the company's stock valued at $97,000 after purchasing an additional 11,403 shares in the last quarter. 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.