Matterport (NASDAQ:MTTR) Given Market Perform Rating at Northland Securities

Matterport (NASDAQ:MTTR)‘s stock had its “market perform” rating restated by investment analysts at Northland Securities in a note issued to investors on Tuesday, Benzinga reports. They currently have a $5.50 price objective on the stock. Northland Securities’ target price indicates a potential upside of 19.70% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Loop Capital reissued a “hold” rating and set a $5.50 price target (up from $5.00) on shares of Matterport in a report on Tuesday. Piper Sandler increased their price target on shares of Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a report on Monday. BTIG Research began coverage on shares of Matterport in a report on Friday, January 19th. They set a “neutral” rating for the company. Finally, Wedbush cut their price target on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.50.

Matterport Trading Down 4.3 %

Shares of MTTR traded down $0.21 during mid-day trading on Tuesday, hitting $4.60. 18,026,271 shares of the company’s stock were exchanged, compared to its average volume of 3,565,834. Matterport has a fifty-two week low of $1.73 and a fifty-two week high of $4.99. The firm has a market capitalization of $1.43 billion, a P/E ratio of -7.00 and a beta of 1.73. The business’s 50 day moving average is $2.09 and its two-hundred day moving average is $2.30.

Matterport (NASDAQ:MTTR) last announced its earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. The business had revenue of $39.55 million during the quarter, compared to the consensus estimate of $40.11 million. On average, equities research analysts forecast that Matterport will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Matterport

In other Matterport news, CEO Raymond J. Pittman sold 69,539 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total value of $134,905.66. Following the completion of the transaction, the chief executive officer now directly owns 3,231,873 shares of the company’s stock, valued at $6,269,833.62. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $2.25, for a total transaction of $56,250.00. Following the completion of the sale, the chief financial officer now directly owns 1,314,918 shares of the company’s stock, valued at approximately $2,958,565.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raymond J. Pittman sold 69,539 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total transaction of $134,905.66. Following the sale, the chief executive officer now directly owns 3,231,873 shares of the company’s stock, valued at $6,269,833.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 437,909 shares of company stock valued at $884,072. Corporate insiders own 16.10% of the company’s stock.

Institutional Trading of Matterport

Institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its stake in shares of Matterport by 21.0% during the 3rd quarter. Barclays PLC now owns 120,020 shares of the company’s stock valued at $260,000 after buying an additional 20,824 shares during the period. Vanguard Group Inc. boosted its position in Matterport by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock worth $50,741,000 after purchasing an additional 306,958 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Matterport by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock worth $4,046,000 after purchasing an additional 90,581 shares during the period. 180 Wealth Advisors LLC purchased a new stake in Matterport during the 3rd quarter worth $27,000. Finally, Dark Forest Capital Management LP purchased a new stake in Matterport during the 3rd quarter worth $291,000. 36.96% of the stock is owned by hedge funds and other institutional investors.

Matterport Company Profile

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.