State Street Corp Lowers Holdings in Matterport, Inc. (NASDAQ:MTTR)

State Street Corp lowered its holdings in Matterport, Inc. (NASDAQ:MTTR - Free Report) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,558,373 shares of the company's stock after selling 121,999 shares during the quarter. State Street Corp owned 2.03% of Matterport worth $29,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Calamos Advisors LLC purchased a new position in Matterport in the 2nd quarter worth about $1,520,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Matterport by 38.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 98,584 shares of the company's stock worth $441,000 after purchasing an additional 27,275 shares during the period. Principal Financial Group Inc. raised its stake in Matterport by 21.9% during the 2nd quarter. Principal Financial Group Inc. now owns 35,382 shares of the company's stock valued at $158,000 after buying an additional 6,362 shares during the last quarter. Trellis Wealth Advisors LLC bought a new position in shares of Matterport during the 2nd quarter valued at $49,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Matterport during the 2nd quarter valued at $456,000. Hedge funds and other institutional investors own 36.96% of the company's stock.

Insiders Place Their Bets

In related news, CEO Raymond J. Pittman sold 358,607 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 4,176,241 shares in the company, valued at approximately $19,753,619.93. The trade was a 7.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Japjit Tulsi sold 85,015 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $402,120.95. Following the completion of the sale, the chief technology officer now directly owns 608,744 shares of the company's stock, valued at $2,879,359.12. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 670,163 shares of company stock worth $3,163,371. Company insiders own 17.50% of the company's stock.

Matterport Price Performance

Shares of MTTR traded down $0.12 during trading hours on Friday, hitting $4.74. The stock had a trading volume of 4,112,784 shares, compared to its average volume of 2,686,933. Matterport, Inc. has a 12 month low of $1.73 and a 12 month high of $5.00. The stock has a fifty day moving average price of $4.77 and a 200 day moving average price of $4.49. The firm has a market capitalization of $1.53 billion, a PE ratio of -5.71 and a beta of 1.06.

Matterport (NASDAQ:MTTR - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter, meeting 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 firm had revenue of $43.79 million during the quarter, compared to analyst estimates of $43.91 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Matterport, Inc. will post -0.44 EPS for the current fiscal year.

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.