Cathie Wood is Loading Up on These 5 Stocks

1. Matterport, Inc. (NASDAQ:MTTR)

Number of Hedge Fund Holders: 7 

Percentage Increase in Stake During Q2 2022: 95% 

Matterport, Inc. (NASDAQ:MTTR) is a spatial data company based in California. ARK Investment Management owned 1 million shares in Matterport, Inc. (NASDAQ:MTTR) at the end of June 2022 worth $5.6 million, representing 0.03% of the portfolio of the fund. 

On August 16, Wolfe Research analyst Gal Munda initiated coverage of Matterport, Inc. (NASDAQ:MTTR) stock with a Peer Perform rating, noting the firm produced best-in-class reality capture software for a number of industries. 

At the end of the second quarter of 2022, 7 hedge funds in the database of Insider Monkey held stakes worth $22 million in Matterport, Inc. (NASDAQ:MTTR), compared to 12 in the previous quarter worth $52 million.

In its Q4 2021 investor letter, Miller Value Partners, an asset management firm, highlighted a few stocks and Matterport, Inc. (NASDAQ:MTTR) was one of them. Here is what the fund said:

“Matterport Inc. (MTTR) continued to be a strong contributor during the quarter after Matterport’s ability to contribute to the building of the metaverse was brought to light. The company reported 3Q results that missed consensus due to unexpected supply constraints and labor shortage in its capture services. The company reported total sales of $27.7M below consensus of $29.1M but with gross profit beating coming in at $15.2M versus $15.1M expected leading to an EPS loss of -$0.06 slightly better than consensus of -$0.07. The company lowered full-year revenue guidance to $107-110M down from $120-126M previously while also lowering FY22 topline guidance to 50% growth from 65% at the time of the PIPE transaction due to continuing supply constraints and labor shortage.”

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