Belpointe Asset Management LLC Purchases New Shares in Matterport, Inc. (NASDAQ:MTTR)

Belpointe Asset Management LLC purchased a new position in Matterport, Inc. (NASDAQ:MTTR – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,162 shares of the company’s stock, valued at approximately $42,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Matterport by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,653,430 shares of the company’s stock worth $66,906,000 after buying an additional 775,755 shares during the period. BlackRock Inc. grew its holdings in Matterport by 1.5% in the third quarter. BlackRock Inc. now owns 17,166,483 shares of the company’s stock worth $65,061,000 after purchasing an additional 261,849 shares during the period. State Street Corp increased its stake in shares of Matterport by 4.3% during the third quarter. State Street Corp now owns 4,757,681 shares of the company’s stock valued at $18,032,000 after purchasing an additional 197,996 shares in the last quarter. Pictet Asset Management SA lifted its holdings in shares of Matterport by 17.0% during the third quarter. Pictet Asset Management SA now owns 3,244,892 shares of the company’s stock valued at $12,298,000 after purchasing an additional 471,308 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of Matterport by 48.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,403,029 shares of the company’s stock worth $6,728,000 after purchasing an additional 783,741 shares in the last quarter. Institutional investors own 33.11% of the company’s stock.

Insider Activity

In other Matterport news, CTO Japjit Tulsi sold 175,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $2.80, for a total value of $490,000.00. Following the transaction, the chief technology officer now owns 176,906 shares of the company’s stock, valued at $495,336.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Matterport news, CRO Jay Remley sold 21,849 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $2.83, for a total transaction of $61,832.67. Following the sale, the executive now directly owns 647,150 shares of the company’s stock, valued at $1,831,434.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Japjit Tulsi sold 175,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $2.80, for a total value of $490,000.00. Following the completion of the transaction, the chief technology officer now directly owns 176,906 shares in the company, valued at $495,336.80. The disclosure for this sale can be found here. Insiders have sold 389,926 shares of company stock valued at $1,098,241 in the last ninety days. 24.20% of the stock is currently owned by company insiders.

Matterport Stock Performance

Matterport stock opened at $2.79 on Thursday. The firm has a market cap of $825.48 million, a price-to-earnings ratio of -3.40 and a beta of 1.54. Matterport, Inc. has a 12 month low of $2.20 and a 12 month high of $7.45. The stock has a fifty day simple moving average of $2.65 and a two-hundred day simple moving average of $2.92.

Matterport (NASDAQ:MTTR – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.21) EPS for the quarter, hitting analysts’ consensus estimates of ($0.21). The firm had revenue of $41.14 million during 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%. On average, equities research analysts forecast that Matterport, Inc. will post -0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MTTR has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Matterport from $3.00 to $3.75 and gave the company an “equal weight” rating in a research report on Friday, February 24th. Loop Capital reduced their price target on Matterport from $12.00 to $8.00 in a report on Thursday, February 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $4.00 price target on shares of Matterport in a research note on Tuesday, March 21st.

Matterport 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.