Readystate Asset Management LP Sells 222,181 Shares of Matterport, Inc. (NASDAQ:MTTR)

Readystate Asset Management LP reduced its position in Matterport, Inc. (NASDAQ:MTTR - Free Report) by 29.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 523,584 shares of the company's stock after selling 222,181 shares during the quarter. Readystate Asset Management LP owned about 0.16% of Matterport worth $2,356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new stake in shares of Matterport during the 2nd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Matterport during the 3rd quarter worth approximately $30,000. Trellis Wealth Advisors LLC bought a new stake in shares of Matterport during the 2nd quarter worth approximately $49,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Matterport during the 1st quarter worth approximately $25,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Matterport by 23.0% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,001 shares of the company's stock worth $63,000 after acquiring an additional 2,618 shares during the period. 36.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Matterport

In other news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.47, for a total transaction of $111,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,518,751 shares in the company, valued at $6,788,816.97. This represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Raymond J. Pittman sold 358,607 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 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 approximately $19,753,619.93. This represents a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 675,935 shares of company stock valued at $3,187,383 in the last quarter. Insiders own 17.50% of the company's stock.

Matterport Stock Performance

Shares of Matterport stock traded up $0.01 on Thursday, reaching $4.76. 740,929 shares of the stock were exchanged, compared to its average volume of 2,692,338. The firm's 50 day moving average is $4.70 and its 200-day moving average is $4.45. Matterport, Inc. has a one year low of $1.73 and a one year high of $4.99. The firm has a market cap of $1.54 billion, a PE ratio of -5.72 and a beta of 1.06.

Matterport (NASDAQ:MTTR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $43.79 million during the quarter, compared to the consensus estimate of $43.91 million. Matterport had a negative net margin of 157.21% and a negative return on equity of 32.19%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS. On average, equities research analysts expect that Matterport, Inc. will post -0.44 EPS for the current fiscal year.

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.