Sunday, June 26, 2022

A company insider recently sold 60,000 shares of Matterport Inc. [MTTR]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Matterport Inc. shares valued at $233,460 were sold by Tulsi Japjit on Jun 14. At $3.89 per share, Tulsi Japjit sold 60,000 shares. The insider’s holdings dropped to 346,486 shares worth approximately $1.39 million following the completion of this transaction.

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Also, Fay James Daniel sold 225,627 shares, netting a total of over 1,148,216 in proceeds. Following the sale of shares at $5.09 each, the insider now holds 523,470 shares.

Before that, Fay James Daniel had sold 74,373 shares from its account. In a trade valued at $373,873, the Chief Financial Officer traded Matterport Inc. shares for $5.03 each. Upon closing the transaction, the insider’s holdings decreased to 74,373 shares, worth approximately $3.0 million.

As published in a research note from Wedbush on May 03, 2022, Matterport Inc. [MTTR] has been rated down from an Outperform to a Neutral and the price target has been revised to $6 from $10. This represents a 33.33% premium over Wednesday’s closing price. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid April. As of February 02, 2022, Deutsche Bank has initiated its “Buy” rating for MTTR. Earlier on September 29, 2021, Berenberg initiated its rating. Their recommendation was “a Buy” for MTTR stock.

Analyzing MTTR’s Price Performance

On Wednesday, Matterport Inc. [NASDAQ: MTTR] plunged -1.23% to $4.00. The stock’s lowest price that day was $3.94, but it reached a high of $4.12 in the same session. During the last five days, there has been a drop of approximately 0.00%. Over the course of the year, Matterport Inc. shares have dropped approximately -80.62%. Shares of the company reached a 52-week high of $21.20 on 01/03/22 and a 52-week low of $3.62 on 06/14/22. A 50-day SMA is recorded $5.35, while a 200-day SMA reached $13.62. Nevertheless, trading volume fell to 5.53 million shares from 6.24 million shares the previous day.

Support And Resistance Levels for Matterport Inc. (MTTR)

According to the 24-hour chart, there is a support level at 3.92, which, if violated, would cause prices to drop to 3.84. In the upper region, resistance lies at 4.10. The next price resistance is at 4.20. RSI (Relative Strength Index) is 36.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.47, which suggests the price will decrease in the coming days. Percent R is at 83.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Matterport Inc. (MTTR)?

According to The Vanguard Group, Inc. filings, the company currently owns 11,813,930 shares, which is about 4.19% of the total MTTR shares outstanding. The investor’s shares have appreciated by 7,531,264 from its previous 13-F filing of 4282666.0 shares. With the completion of the sale, Tiger Global Management LLC’s stake is now worth $19,764,000. BlackRock Fund Advisors reduced a -0.58% interest valued at $17.73 million while Pictet Asset Management SA purchased a 1,138,574 stake. A total of -2,477,582 shares of Matterport Inc. were bought by Wafra, Inc. during the quarter, and 2,115,864 were bought by Susquehanna Financial Group LLLP. In its current portfolio, Geode Capital Management LLC holds 1,758,308 shares valued at $9.65 million.

In terms of Matterport Inc. share price expectations, FactSet research, analysts set an average price target of $9.00 in the next 12 months, up nearly 72.84% from the previous closing price of $4.05. Analysts anticipate Matterport Inc. stock to reach $15.00 by 2022, with the lowest price target being $6.00. In spite of this, 7 analysts ranked Matterport Inc. stock as an Overweight at the end of 2022. On August 24, 2021, Credit Suisse assigned a price target of “an Outperform” to the stock and initiated coverage with a $20.

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