Matterport’s (MTTR) “Overweight” Rating Reiterated at Piper Sandler

Posted by Defense World Staff on Feb 27th, 2023

Piper Sandler reissued their overweight rating on shares of Matterport (NASDAQ:MTTR – Get Rating) in a research report report published on Thursday morning, Benzinga reports. They currently have a $4.00 price objective on the stock.

Other research analysts have also issued research reports about the company. Morgan Stanley cut their price objective on Matterport from $4.50 to $3.00 and set an equal weight rating for the company in a report on Monday, December 19th. Deutsche Bank Aktiengesellschaft lowered Matterport from a buy rating to a hold rating and cut their price objective for the stock from $5.00 to $3.00 in a report on Monday, January 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $6.29.

Matterport Trading Down 2.8 %

Shares of NASDAQ MTTR opened at $3.08 on Thursday. Matterport has a 12 month low of $2.37 and a 12 month high of $9.36. The firm has a market capitalization of $885.32 million, a price-to-earnings ratio of -7.50 and a beta of 1.58. The business has a 50-day moving average of $3.12 and a 200-day moving average of $3.55.

Insider Buying and Selling

In related news, CRO Jay Remley sold 54,076 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $3.08, for a total value of $166,554.08. Following the completion of the sale, the executive now owns 538,461 shares in the company, valued at approximately $1,658,459.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Matterport news, CTO Japjit Tulsi sold 54,110 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $3.08, for a total value of $166,658.80. Following the completion of the sale, the chief technology officer now owns 351,605 shares in the company, valued at $1,082,943.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jay Remley sold 54,076 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $3.08, for a total value of $166,554.08. Following the completion of the sale, the executive now owns 538,461 shares of the company’s stock, valued at approximately $1,658,459.88. The disclosure for this sale can be found here. Insiders sold 442,019 shares of company stock worth $1,361,419 in the last quarter. 24.20% of the stock is owned by insiders.

Institutional Trading of Matterport

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Strait & Sound Wealth Management LLC bought a new stake in Matterport in the fourth quarter valued at approximately $712,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of Matterport by 7.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 202,266 shares of the company’s stock valued at $566,000 after acquiring an additional 14,360 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Matterport by 2.0% during the fourth quarter. Legal & General Group Plc now owns 197,634 shares of the company’s stock valued at $553,000 after acquiring an additional 3,864 shares in the last quarter. Millennium Management LLC bought a new position in shares of Matterport during the fourth quarter valued at approximately $453,000. Finally, Morgan Stanley raised its holdings in shares of Matterport by 25.7% during the fourth quarter. Morgan Stanley now owns 2,015,319 shares of the company’s stock valued at $5,643,000 after acquiring an additional 412,627 shares in the last quarter. Institutional investors own 33.11% of the company’s stock.

About Matterport

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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.