Matterport, Inc. (NASDAQ:MTTR) Chief Revenue Officer Jay Remley has recently engaged in transactions involving the company's Class A Common Stock, according to the latest SEC filings. Remley sold a total of 63,258 shares, resulting in proceeds exceeding $277,000. The sales took place on June 3 and June 4, with the weighted average price per share ranging from $4.3544 to $4.4085.
These transactions are part of a series of non-discretionary sales to cover taxes and fees associated with the vesting and settlement of restricted stock unit awards. The sales represent a portion of the shares automatically sold upon vesting of the awards, as detailed in the footnotes of the SEC filing.
In addition to the sales, the filing also reports that Remley acquired shares through the company's Employee Stock Purchase Plan and as part of the vesting of restricted stock units. On May 31, Remley acquired 1,347 shares at a price of $2.2865 each, adding to his holdings under the plan.
The SEC filing further indicates that Remley now owns 1,174,697 shares of Matterport's Class A Common Stock directly after the reported transactions. It is important to note that the executive's remaining ownership includes shares that continue to vest under the terms of the restricted stock units, with vesting schedules extending to March 2028.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the company's stock value and future prospects. However, it is also common for executives to sell shares for personal financial planning, tax obligations, or other non-market related reasons.
Matterport, headquartered in Sunnyvale, California, specializes in services related to prepackaged software and is known for its 3D data platform which enables users to create, modify, navigate, and build on digital representations of physical spaces.
InvestingPro Insights
Matterport, Inc. (NASDAQ:MTTR) has been navigating a dynamic market landscape, as evidenced by the recent insider stock transactions of its Chief Revenue Officer, Jay Remley. To provide a deeper understanding of the company's financial health and market performance, here are some key metrics and insights from InvestingPro.
InvestingPro Data indicates that Matterport boasts a market capitalization of approximately $1.37 billion USD. Despite challenges, the company has maintained a strong gross profit margin of 46.37% over the last twelve months as of Q1 2024, underscoring its ability to manage costs effectively relative to revenue, which stood at $159.63 million USD.
Investors looking at the company's stock price movements will note a significant 116.42% return over the last three months, suggesting a robust short-term investor confidence in the company's trajectory. This is further supported by a 61.71% year-to-date price total return, which aligns with the company's large price uptick over the last six months, as highlighted by an InvestingPro Tip.
However, it's important to consider that the Price/Earnings (P/E) ratio is currently negative at -7.34, reflecting investor concerns about profitability. Matterport has not been profitable over the last twelve months, and analysts do not anticipate the company will be profitable this year, as per another InvestingPro Tip.
For investors seeking a more comprehensive analysis and additional insights, there are a total of 9 InvestingPro Tips available for Matterport, which can be explored at https://www.investing.com/pro/MTTR. These tips provide valuable guidance on aspects such as the company's liquidity, stock volatility, and return on assets.
To dive deeper into these metrics and gain access to the full suite of insights, consider subscribing to InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching your investment strategy with expert-level data and analysis.
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