Matterport, Inc. (NASDAQ:MTTR) CTO Japjit Tulsi Sells 26,971 Shares

Posted by on Mar 7th, 2023

Matterport, Inc. (NASDAQ:MTTR – Get Rating) CTO Japjit Tulsi sold 26,971 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $2.83, for a total transaction of $76,327.93. Following the transaction, the chief technology officer now directly owns 433,416 shares of the company’s stock, valued at approximately $1,226,567.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Matterport Stock Performance

Shares of Matterport stock opened at $2.94 on Tuesday. Matterport, Inc. has a one year low of $2.37 and a one year high of $9.36. The company has a market capitalization of $855.72 million, a PE ratio of -7.17 and a beta of 1.60. The company has a 50-day simple moving average of $3.17 and a two-hundred day simple moving average of $3.44.

Hedge Funds Weigh In On Matterport

Hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. boosted its holdings in Matterport by 42.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 26,095 shares of the company’s stock valued at $73,000 after purchasing an additional 7,761 shares during the last quarter. Voya Investment Management LLC increased its holdings in Matterport by 42.7% in the fourth quarter. Voya Investment Management LLC now owns 123,000 shares of the company’s stock valued at $344,000 after buying an additional 36,800 shares in the last quarter. Strait & Sound Wealth Management LLC acquired a new position in Matterport in the 4th quarter worth about $712,000. Schonfeld Strategic Advisors LLC boosted its position in Matterport by 7.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 202,266 shares of the company’s stock worth $566,000 after purchasing an additional 14,360 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Matterport by 2.0% in the 4th quarter. Legal & General Group Plc now owns 197,634 shares of the company’s stock worth $553,000 after acquiring an additional 3,864 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analysts Set New Price Targets

MTTR has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $4.00 target price on shares of Matterport in a research note on Thursday, February 23rd. Morgan Stanley increased their price target on shares of Matterport from $3.00 to $3.75 and gave the stock an “equal weight” rating in a research note on Friday, February 24th. Deutsche Bank Aktiengesellschaft lowered shares of Matterport from a “buy” rating to a “hold” rating and reduced their price objective for the company from $5.00 to $3.00 in a research note on Monday, January 23rd. Finally, Loop Capital reduced their price objective on shares of Matterport from $12.00 to $8.00 in a research report on Thursday, February 23rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Matterport presently has a consensus rating of “Hold” and an average target price of $6.29.

Matterport Company Profile

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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.

Further Reading

Insider Buying and Selling by Quarter for Matterport (NASDAQ:MTTR)

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