The Vanguard Group, Inc. has recently announced that it has increased stake in Matterport Inc (NASDAQ:MTTR) by 1.36%. After grabbing 22.97 million shares, the institutional investor is now in possession of 0.31 million shares of the Technology Company. The new investment brought the stake of investor firm to 7.63% having worth around $46.86 million. Moreover, BlackRock Fund Advisors increased its share by 0.75 million to have a control over 18.57 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.19 million shares by acquiring 6.21 million shares or 2.06% of the stake.
Matterport Inc (MTTR) concluded trading on 12/14/23 at a closing price of $2.67, with 4.69 million shares of worth about $12.52 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -17.34% during that period and on Thursday the price saw a gain of about 4.30%. Currently the company’s common shares owned by public are about 290.54M shares, out of which, 251.89M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 69 times over the past 12 months. They bought 4,290,372 shares in 44 of the transactions. In 25 selling transactions, insiders dumped 2,018,070 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Information Technology I are the top 3 mutual funds which are holding stakes in Matterport Inc Vanguard Total Stock Market ETF is currently holding 7.85 million shares of worth totaling $16.02 million. The company recently came buying 0.0 shares which brought its stake up to 2.61% of the company’s outstanding shares. iShares Russell 2000 ETF sold 61419.0 shares, after which its hold over company’s outstanding shares shrunk to 2.03%, leaving 6.12 million shares with the mutual fund that have a worth of about $12.48 million. Vanguard Information Technology I, after buying 5.29 million shares, have now control over 1.76% of the stake in the company. It holds 18652.0 shares of worth $10.8 million.
However, the stock later moved at a day high price of 2.8150, or with a gain of 4.30%. Stock saw a price change of 7.23% in past 5 days and over the past one month there was a price change of -1.11%. Year-to-date (YTD), MTTR shares are showing a performance of -4.64% which decreased to -5.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.84 but also hit the highest price of $4.07 during that period. The average intraday trading volume for Matterport Inc shares is 2.18 million. The stock is currently trading 3.01% above its 20-day simple moving average (SMA20), while that difference is up 13.82% for SMA50 and it goes to 0.26% higher than SMA200.
The Vanguard Group, Inc. acquired 22.97 million shares of Matterport Inc having value of about $46.86 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.31 million shares in the company valued at close to $822410.73, or have control over 1.36% stake in the company. Matterport Inc (NASDAQ: MTTR) currently have 290.54M outstanding shares and institutions hold larger chunk of about 32.22% of that. Holding of mutual funds in the company is about 13.52% while other institutional holders and individual stake holders have control over 19.80% and 12.91% of the stake respectively.
The stock has a current market capitalization of $816.11M and its 3Y-monthly beta is at 1.76. It has posted earnings per share of -$0.73 in the same period. It has Quick Ratio of 9.41 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MTTR, volatility over the week remained 5.78% while standing at 4.69% over the month.
Analysts are in expectations that Matterport Inc (MTTR) stock would likely to be making an EPS of -$0.04 in the current quarter, while forecast for next quarter EPS is -$0.03 and it is -$0.11 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.04 which is -$0.04 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.09 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 45.78% while it is estimated to increase by 49.26% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on October 23, 2023 offering a Neutral rating for the stock and assigned a target price range of between $4 and $2 to it.
