Insider Selling: Nextdoor (NYSE:NXDR) CRO Sells $127,000.00 in Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) CRO Michael Kiernan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $2.54, for a total transaction of $127,000.00. Following the completion of the sale, the executive directly owned 455,917 shares of the company’s stock, valued at $1,158,029.18. The trade was a 9.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Kiernan also recently made the following trade(s):

• On Tuesday, September 22nd, Michael Kiernan sold 50,000 shares of Nextdoor stock. The shares were sold at an average price of $2.54, for a total transaction of $127,000.00.

Nextdoor Stock Performance

Shares of NXDR stock traded down $0.12 during trading hours on Thursday, hitting $2.51. 1,755,361 shares of the company were exchanged, compared to its average volume of 2,967,820. Nextdoor Holdings, Inc. has a one year low of $1.33 and a one year high of $3.72. The business’s 50-day simple moving average is $2.43 and its two-hundred day simple moving average is $2.18. The stock has a market capitalization of $957.28 million, a price-to-earnings ratio of -31.37 and a beta of 1.41.

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. The business had revenue of $74.55 million during the quarter, compared to the consensus estimate of $72.10 million. Nextdoor had a negative return on equity of 6.16% and a negative net margin of 11.08%. As a group, analysts anticipate that Nextdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its stake in Nextdoor by 24.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,707,745 shares of the company’s stock valued at $3,791,000 after buying an additional 530,913 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Nextdoor by 51.4% during the second quarter. Squarepoint Ops LLC now owns 789,512 shares of the company’s stock valued at $1,792,000 after acquiring an additional 268,007 shares during the period. Corient Private Wealth LLC bought a new position in shares of Nextdoor during the fourth quarter worth about $369,000. Hsbc Holdings PLC bought a new position in shares of Nextdoor during the first quarter worth about $232,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Nextdoor during the second quarter worth about $331,000. 35.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

About Nextdoor

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.