Matterport, Inc. (NASDAQ:MTTR) CFO James Daniel Fay Sells 36,341 Shares

Posted by on Mar 7th, 2023

Matterport, Inc. (NASDAQ:MTTR – Get Rating) CFO James Daniel Fay sold 36,341 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $2.83, for a total transaction of $102,845.03. Following the transaction, the chief financial officer now directly owns 868,350 shares of the company’s stock, valued at $2,457,430.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matterport Trading Down 1.0 %

NASDAQ MTTR opened at $2.94 on Tuesday. Matterport, Inc. has a 12 month low of $2.37 and a 12 month high of $9.36. The stock has a market cap of $855.72 million, a price-to-earnings ratio of -7.17 and a beta of 1.60. The company’s 50 day moving average is $3.17 and its two-hundred day moving average is $3.44.

Institutional Trading of Matterport

A number of hedge funds and other institutional investors have recently modified their holdings of MTTR. First Republic Investment Management Inc. raised its stake in Matterport by 2,055.5% during the 3rd quarter. First Republic Investment Management Inc. now owns 286,184 shares of the company’s stock valued at $1,085,000 after purchasing an additional 272,907 shares during the period. Royce & Associates LP purchased a new stake in Matterport during the 3rd quarter valued at $568,000. Hunter Associates Investment Management LLC bought a new stake in Matterport in the second quarter worth $57,000. Raymond James Financial Services Advisors Inc. boosted its stake in Matterport by 10.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 127,641 shares of the company’s stock worth $484,000 after buying an additional 11,621 shares during the period. Finally, Walleye Capital LLC bought a new position in Matterport during the second quarter valued at $97,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MTTR. Piper Sandler reiterated an “overweight” rating and set a $4.00 target price on shares of Matterport in a research note on Thursday, February 23rd. Morgan Stanley increased their target price on Matterport from $3.00 to $3.75 and gave the company an “equal weight” rating in a report on Friday, February 24th. Loop Capital cut their price target on Matterport from $12.00 to $8.00 in a research note on Thursday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Matterport from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $5.00 to $3.00 in a research note on Monday, January 23rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.29.

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.

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