Nextdoor (NYSE:NXDR) Stock: Insider Michael Kiernan Sells 50,000 Shares

Nextdoor Holdings, Inc. (NYSE:NXDR) CRO Michael Kiernan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $2.54, for a total value of $127,000.00. Following the transaction, the executive owned 458,602 shares in the company, valued at $1,164,849.08. The trade was a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextdoor Price Performance

Shares of NYSE:NXDR traded up $0.05 during mid-day trading on Thursday, hitting $2.43. The company had a trading volume of 2,668,058 shares, compared to its average volume of 3,097,586. Nextdoor Holdings, Inc. has a one year low of $1.33 and a one year high of $3.72. The firm has a fifty day moving average price of $2.38 and a 200 day moving average price of $2.04. The company has a market capitalization of $925.25 million, a PE ratio of -30.33 and a beta of 1.37.

Nextdoor (NYSE:NXDR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Nextdoor had a negative net margin of 11.08% and a negative return on equity of 6.16%. The business had revenue of $74.55 million during the quarter, compared to analysts’ expectations of $72.10 million. Research analysts expect that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Amova Asset Management Americas Inc. bought a new position in shares of Nextdoor in the fourth quarter worth $24,871,000. Bond Capital Management LP bought a new stake in Nextdoor during the fourth quarter valued at $2,937,000. Creek Drive Management Group LLC purchased a new position in Nextdoor during the fourth quarter worth about $2,625,000. Altshuler Shaham Ltd purchased a new position in Nextdoor during the fourth quarter worth about $1,491,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Nextdoor by 24.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,707,745 shares of the company’s stock worth $3,791,000 after acquiring an additional 530,913 shares during the last quarter. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NXDR. Weiss Ratings reissued a “sell (d-)” rating on shares of Nextdoor in a report on Friday, July 10th. Citigroup boosted their price objective on Nextdoor from $2.30 to $2.85 and gave the company a “neutral” rating in a research note on Monday, August 17th. Finally, B. Riley Financial upgraded Nextdoor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.00 to $3.30 in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nextdoor currently has a consensus rating of “Hold” and a consensus target price of $2.80.

About Nextdoor

Nextdoor Holdings, Inc operates Nextdoor, a neighborhood-focused social networking platform available through mobile applications and the web. The service enables people to connect with nearby residents, exchange local information, request and provide recommendations, share alerts, and discuss community issues. Users generally join neighborhood networks tied to their residential locations, helping Nextdoor support conversations based on geographic communities.

The platform also offers features for local businesses, public agencies, and nonprofit organizations.