Matterport, Inc. (NASDAQ:MTTR – Get Rating) CTO Japjit Tulsi sold 175,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $2.80, for a total value of $490,000.00. Following the sale, the chief technology officer now owns 176,906 shares in the company, valued at approximately $495,336.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link.
Japjit Tulsi also recently made the following trade(s):
- On Thursday, March 2nd, Japjit Tulsi sold 26,971 shares of Matterport stock. The shares were sold at an average price of $2.83, for a total value of $76,327.93.
Matterport Stock Down 4.9 %
Shares of NASDAQ MTTR opened at $2.72 on Friday. The firm’s fifty day moving average is $2.64 and its 200 day moving average is $2.93. Matterport, Inc. has a 52 week low of $2.20 and a 52 week high of $7.45. The company has a market cap of $804.77 million, a price-to-earnings ratio of -3.32 and a beta of 1.54.
Matterport (NASDAQ:MTTR – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). The business had revenue of $41.14 million for the quarter, compared to analyst estimates of $39.96 million. Matterport had a negative net margin of 162.82% and a negative return on equity of 39.66%. Equities research analysts anticipate that Matterport, Inc. will post -0.81 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of MTTR. Vanguard Group Inc. grew its position in shares of Matterport by 171.4% in the 1st quarter. Vanguard Group Inc. now owns 11,882,193 shares of the company’s stock worth $96,483,000 after buying an additional 7,504,573 shares during the last quarter. State Street Corp raised its holdings in Matterport by 460.3% in the 2nd quarter. State Street Corp now owns 4,559,685 shares of the company’s stock worth $16,688,000 after purchasing an additional 3,745,958 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Matterport by 737.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,574,336 shares of the company’s stock worth $12,783,000 after purchasing an additional 1,821,154 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Matterport by 498.7% during the 2nd quarter. Northern Trust Corp now owns 1,992,632 shares of the company’s stock valued at $7,292,000 after purchasing an additional 1,659,800 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Matterport during the fourth quarter valued at about $3,899,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on MTTR shares. Loop Capital cut their target price on Matterport from $12.00 to $8.00 in a research note on Thursday, February 23rd. Morgan Stanley upped their price objective on shares of Matterport from $3.00 to $3.75 and gave the company an “equal weight” rating in a research note on Friday, February 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Matterport from a “buy” rating to a “hold” rating and lowered their price target for the stock from $5.00 to $3.00 in a research note on Monday, January 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $4.00 price target on shares of Matterport in a research report on Tuesday, March 21st.
Matterport, Inc, a spatial data company, focuses on digitization and datafication of the built world. It offers Matterport digital twins, a 3D data platform to design, build, operate, promote, and understand spaces. The company offers Matterport Capture, an application that enables to capture depth, data, and imagery of a space using 3D cameras, 360 cameras, and iPhones; Matterport Workshop application to customize, add additional details, and share spaces; Matterport Showcase application for audience view and explore space in its final format; and Matterport VR to experience virtual reality.
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