Matterport, Inc. (NASDAQ:MTTR) Chief Financial Officer, Fay James Daniel, has recently engaged in multiple stock transactions, according to the latest Form 4 filing with the Securities and Exchange Commission. The transactions included both acquisitions and disposals of the company's Class A Common Stock.
On one end of these transactions, the CFO acquired shares at a fixed price of $2.2865, totaling $6,859. These shares were obtained under the company's Employee Stock Purchase Plan. On the other hand, Daniel sold a significant number of shares in a series of transactions. On June 3, 2024, Daniel sold 25,000 shares at an average price of $4.4031, amounting to $110,077. The sales continued on the same day and the following day, with 61,768 and 44,125 shares being sold at weighted average prices ranging from $4.3544 to $4.4085, bringing the total value of these disposals to $464,442.
The sales on June 3 were partly to cover taxes and fees in connection with the vesting and settlement of restricted stock unit awards, as indicated by footnotes in the filing. The prices reported are weighted averages, with the transactions occurring at various prices within the specified ranges. Daniel has committed to providing full information on the number of shares sold at each price upon request.
Following these transactions, Fay James Daniel's ownership in Matterport, Inc. has adjusted, but the filing did not indicate a change in the executive's long-term commitment to the company. The transactions were executed in accordance with a pre-arranged Rule 10b5-1 trading plan, which allows insiders to sell shares at predetermined times to avoid accusations of trading on non-public information.
Investors and followers of Matterport, Inc. can view the full details of these transactions in the Form 4 filing available on the SEC's website.
InvestingPro Insights
As Matterport, Inc. (NASDAQ:MTTR) navigates the financial waters with recent insider trading activity, investors are keeping a keen eye on the company's financial health and stock performance. With a market capitalization of $1.37 billion, the company's financial metrics provide a broader context for the transactions made by CFO Fay James Daniel.
One of the key metrics to consider is the company's Price/Earnings (P/E) Ratio, which currently stands at -7.34. This negative P/E ratio reflects analysts' expectations that Matterport will not be profitable in the current year, aligning with an InvestingPro Tip highlighting that the company has not been profitable over the last twelve months. Moreover, the company's Price to Book (P/B) ratio of 2.65 suggests that investors are paying a bit more than twice the value of the company's net assets, indicating a moderate valuation in the market.
The stock's recent performance shows a strong return over the last three months with a 116.42% price total return, which is a significant metric for investors considering the stock's volatility. This aligns with another InvestingPro Tip that Matterport's stock generally trades with high price volatility, which is important for potential investors to consider.
For investors looking for more in-depth analysis and additional InvestingPro Tips, including insights into Matterport's cash position and liquidity, they can explore further at https://www.investing.com/pro/MTTR. There are 9 additional InvestingPro Tips available to help investors make more informed decisions. Interested readers can also take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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