Matterport (NASDAQ:MTTR) Trading Down 5% - Here's Why

Matterport, Inc. (NASDAQ:MTTR - Get Free Report) shares fell 5% during trading on Wednesday . The stock traded as low as $4.56 and last traded at $4.57. 320,619 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 2,768,005 shares. The stock had previously closed at $4.81.

Matterport Price Performance

The stock has a 50 day moving average of $4.51 and a two-hundred day moving average of $4.23. The stock has a market capitalization of $1.44 billion, a PE ratio of -7.55 and a beta of 1.07.

Matterport (NASDAQ:MTTR - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) EPS for the quarter, hitting analysts' consensus estimates of ($0.02). Matterport had a negative net margin of 164.17% and a negative return on equity of 32.22%. The firm had revenue of $42.20 million for the quarter, compared to the consensus estimate of $44.38 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The firm's revenue was up 6.6% on a year-over-year basis. As a group, research analysts predict that Matterport, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Matterport

In other news, insider Matthew Zinn sold 31,808 shares of Matterport stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.41, for a total transaction of $140,273.28. Following the completion of the transaction, the insider now owns 481,687 shares of the company's stock, valued at $2,124,239.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Raymond J. Pittman sold 135,083 shares of Matterport stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.41, for a total transaction of $595,716.03. Following the completion of the sale, the chief executive officer now owns 4,083,196 shares in the company, valued at approximately $18,006,894.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Zinn sold 31,808 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.41, for a total transaction of $140,273.28. Following the sale, the insider now directly owns 481,687 shares in the company, valued at $2,124,239.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 494,671 shares of company stock valued at $2,155,982 in the last ninety days. Corporate insiders own 17.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. IMC Chicago LLC acquired a new stake in Matterport in the 1st quarter worth about $465,000. 180 Wealth Advisors LLC boosted its holdings in shares of Matterport by 94.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 28,808 shares of the company's stock valued at $65,000 after purchasing an additional 13,994 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in shares of Matterport during the 1st quarter valued at $94,000. Commonwealth Equity Services LLC grew its stake in shares of Matterport by 5.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 296,270 shares of the company's stock valued at $670,000 after buying an additional 15,526 shares during the period. Finally, SpiderRock Advisors LLC acquired a new stake in shares of Matterport during the 1st quarter worth $271,000. Hedge funds and other institutional investors own 36.96% of the company's stock.

Matterport Company Profile

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.