Matterport (NASDAQ:MTTR) Hits New 52-Week High – Should You Buy?

Matterport, Inc. (NASDAQ:MTTR) reached a new 52-week high on Wednesday . The company traded as high as $5.40 and last traded at $5.45, with a volume of 1706501 shares changing hands. The stock had previously closed at $5.28.

Matterport Trading Down 1.7 %

The firm has a market capitalization of $1.72 billion, a P/E ratio of -6.43 and a beta of 1.06. The company has a 50-day moving average of $5.05 and a 200-day moving average of $4.74.

Insider Buying and Selling

In other Matterport news, CTO Japjit Tulsi sold 85,015 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total transaction of $402,120.95. Following the completion of the transaction, the chief technology officer now owns 608,744 shares in the company, valued at approximately $2,879,359.12. This trade represents a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raymond J. Pittman sold 358,607 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $4.73, for a total transaction of $1,696,211.11. Following the completion of the sale, the chief executive officer now directly owns 4,176,241 shares in the company, valued at approximately $19,753,619.93. This represents a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 645,163 shares of company stock valued at $3,051,621 over the last ninety days. 17.50% of the stock is owned by company insiders.

Institutional Trading of Matterport

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

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.