Nextdoor (NYSE:NXDR) Insider Sells $120,781.20 in Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) insider Sophia Schwartz sold 48,120 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $2.51, for a total value of $120,781.20. Following the sale, the insider directly owned 360,324 shares of the company’s stock, valued at approximately $904,413.24. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextdoor Stock Performance

Shares of Nextdoor stock opened at $2.63 on Thursday. Nextdoor Holdings, Inc. has a 52-week low of $1.33 and a 52-week high of $3.72. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -32.88 and a beta of 1.41. The company’s 50 day moving average price is $2.43 and its 200-day moving average price is $2.18.

Nextdoor (NYSE:NXDR) last issued its earnings results on Tuesday, August 4th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate 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 company had revenue of $74.55 million for the quarter, compared to the consensus estimate of $72.10 million. As a group, equities research analysts forecast that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nextdoor

A number of hedge funds and other institutional investors have recently made changes to their positions in NXDR. Creek Drive Management Group LLC bought a new stake in Nextdoor in the fourth quarter valued at $2,625,000. Arrowstreet Capital Limited Partnership increased its position in Nextdoor by 24.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,707,745 shares of the company’s stock valued at $3,791,000 after purchasing an additional 530,913 shares during the period. Squarepoint Ops LLC raised its holdings in Nextdoor by 51.4% in the 2nd quarter. Squarepoint Ops LLC now owns 789,512 shares of the company’s stock worth $1,792,000 after purchasing an additional 268,007 shares in the last quarter. Corient Private Wealth LLC bought a new position in Nextdoor in the 4th quarter worth $369,000. Finally, Hsbc Holdings PLC bought a new position in Nextdoor in the 1st quarter worth $232,000. Institutional investors own 35.66% of the company’s stock.

Analyst Ratings Changes

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

Nextdoor Company Profile

Nextdoor Holdings, Inc operates Nextdoor, a social networking platform designed to connect people with others in their local communities. The platform enables verified neighbors to share recommendations, local news, safety information, event announcements, alerts, and other community updates.

In addition to its consumer platform, Nextdoor provides tools for local businesses, public agencies, nonprofit organizations, and other community organizations. These users can create business or agency pages, communicate with nearby residents, promote products and services, and distribute relevant information.