Sophia Schwartz Sells 28,616 Shares of Nextdoor (NYSE:NXDR) Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) General Counsel Sophia Schwartz sold 28,616 shares of Nextdoor stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $2.25, for a total value of $64,386.00. Following the sale, the general counsel owned 307,757 shares in the company, valued at $692,453.25. This represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextdoor Trading Up 1.2%

Shares of Nextdoor stock traded up $0.03 on Wednesday, hitting $2.17. 2,756,240 shares of the company’s stock traded hands, compared to its average volume of 3,437,212. The firm has a market capitalization of $829.52 million, a PE ratio of -19.77 and a beta of 1.38. The business’s 50-day simple moving average is $1.91. Nextdoor Holdings, Inc. has a 52-week low of $1.33 and a 52-week high of $3.72.

Nextdoor (NYSE:NXDR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $61.67 million during the quarter. Nextdoor had a negative net margin of 16.47% and a negative return on equity of 9.22%. As a group, equities research analysts predict that Nextdoor Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nextdoor

Several large investors have recently added to or reduced their stakes in the company. Savvy Advisors Inc. bought a new stake in Nextdoor during the fourth quarter valued at $45,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Nextdoor in the 4th quarter worth about $24,990,000. Westside Investment Management Inc. bought a new position in shares of Nextdoor in the 4th quarter worth about $55,000. Farther Finance Advisors LLC acquired a new position in shares of Nextdoor in the 4th quarter valued at about $25,000. Finally, CWM LLC acquired a new position in shares of Nextdoor in the 4th quarter valued at about $272,000. 35.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NXDR has been the subject of several research analyst reports. Wall Street Zen raised shares of Nextdoor from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $2.25 price target on shares of Nextdoor in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nextdoor in a research note on Tuesday, April 14th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nextdoor presently has an average rating of “Reduce” and a consensus price target of $2.17.

About Nextdoor

Nextdoor Holdings, Inc (NYSE: NXDR) operates Nextdoor, a private social network designed to connect neighbors and local communities. Founded by Nirav Tolia, Sarah Leary, Prakash Janakiraman and David Wiesen, the company is headquartered in San Francisco and provides an app and web platform where residents can share news, recommendations, safety information, items for sale, and local event notices. The platform is built around verified neighborhood groups and identity-confirmation processes intended to foster trust and relevant local conversations.

Nextdoor’s core products center on the consumer-facing Nextdoor app and web experience, supplemented by tools and services for local businesses, public agencies, and advertisers.