Matterport (NASDAQ:MTTR) Shares Gap Down – Here’s What Happened

Matterport, Inc. (NASDAQ:MTTR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $4.83, but opened at $4.70. Matterport shares last traded at $4.70, with a volume of 160,662 shares traded.

Matterport Stock Performance

The firm has a market cap of $1.52 billion, a PE ratio of -5.73 and a beta of 1.07. The stock has a 50 day simple moving average of $4.61 and a two-hundred day simple moving average of $4.43.

Insider Buying and Selling at Matterport

In other news, insider Matthew Zinn sold 31,808 shares of Matterport stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.41, for a total transaction of $140,273.28. Following the completion of the transaction, the insider now directly owns 481,687 shares of the company’s stock, valued at $2,124,239.67. The trade was a 6.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.47, for a total transaction of $111,750.00. Following the sale, the chief financial officer now directly owns 1,518,751 shares in the company, valued at $6,788,816.97. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 469,671 shares of company stock valued at $2,045,982. 17.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matterport

Institutional investors and hedge funds have recently modified their holdings of the business. Magnetar Financial LLC purchased a new position in Matterport during the second quarter worth approximately $27,598,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Matterport in the 2nd quarter valued at $3,142,000. Water Island Capital LLC purchased a new stake in Matterport in the 2nd quarter worth $11,722,000. Calamos Advisors LLC purchased a new stake in Matterport in the 2nd quarter worth $1,520,000. Finally, Gabelli Funds LLC acquired a new position in Matterport during the second quarter worth $1,808,000. Hedge funds and other institutional investors own 36.96% of the company’s stock.

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.