Matterport (NASDAQ:MTTR) Hits New 52-Week High – Still a Buy?

Matterport, Inc. (NASDAQ:MTTR) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.46 and last traded at $5.44, with a volume of 9097476 shares trading hands. The stock had previously closed at $5.40.

Matterport Stock Performance

The company has a market capitalization of $1.76 billion, a PE ratio of -6.55 and a beta of 1.06. The firm has a fifty day simple moving average of $5.07 and a 200 day simple moving average of $4.77.

Insider Transactions at Matterport

In other Matterport news, CFO James Daniel Fay sold 119,312 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $564,345.76. Following the sale, the chief financial officer now directly owns 1,690,458 shares of the company’s stock, valued at approximately $7,995,866.34. This trade represents a 6.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Raymond J. Pittman sold 358,607 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $1,696,211.11. Following the sale, the chief executive officer now directly owns 4,176,241 shares in the company, valued at approximately $19,753,619.93. This trade represents a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 645,163 shares of company stock worth $3,051,621. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Matterport

A number of hedge funds have recently bought and sold shares of the business. Creative Planning raised its stake in shares of Matterport by 29.8% during the 3rd quarter. Creative Planning now owns 67,622 shares of the company’s stock worth $304,000 after buying an additional 15,534 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Matterport during the third quarter valued at $30,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Matterport in the third quarter valued at about $2,015,000. Wolverine Asset Management LLC raised its position in shares of Matterport by 16.7% during the 3rd quarter. Wolverine Asset Management LLC now owns 119,065 shares of the company’s stock worth $536,000 after purchasing an additional 17,000 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in Matterport during the 3rd quarter worth approximately $1,877,000. Hedge funds and other institutional investors own 36.96% of the company’s stock.

About Matterport

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.