Matterport (NASDAQ:MTTR) Reaches New 12-Month High - Should You Buy?

Matterport, Inc. (NASDAQ:MTTR - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $5.00 and last traded at $5.00, with a volume of 242816 shares trading hands. The stock had previously closed at $4.95.

Matterport Stock Performance

The firm has a fifty day simple moving average of $4.75 and a two-hundred day simple moving average of $4.47. The firm has a market cap of $1.60 billion, a PE ratio of -5.96 and a beta of 1.06.

Matterport (NASDAQ:MTTR - Get Free Report) last announced 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). 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 analysts' expectations of $43.91 million. During the same quarter 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. Equities analysts forecast that Matterport, Inc. will post -0.44 EPS for the current fiscal year.

Insider Activity at Matterport

In related news, CEO Raymond J. Pittman sold 358,607 shares of Matterport stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 4,176,241 shares of the company's stock, valued at approximately $19,753,619.93. The trade was a 7.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.47, for a total transaction of $111,750.00. Following the transaction, the chief financial officer now owns 1,518,751 shares in the company, valued at $6,788,816.97. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 670,163 shares of company stock valued at $3,163,371. Insiders own 17.50% of the company's stock.

Institutional Investors Weigh In On Matterport

Institutional investors and hedge funds have recently modified their holdings of the business. Redwood Wealth Management Group LLC purchased a new stake in Matterport in the second quarter worth $29,000. Allspring Global Investments Holdings LLC purchased a new position in Matterport in the 3rd quarter worth about $30,000. Cetera Advisors LLC bought a new stake in Matterport during the 1st quarter valued at about $44,000. Trellis Wealth Advisors LLC bought a new stake in Matterport during the 2nd quarter valued at about $49,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Matterport by 23.0% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company's stock valued at $63,000 after buying an additional 2,618 shares during the period. 36.96% of the stock is owned by institutional investors.

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.