Nextdoor (NYSE:NXDR) Issues Earnings Results

Nextdoor (NYSE:NXDR) issued its earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, FiscalAI reports. Nextdoor had a negative return on equity of 13.18% and a negative net margin of 24.58%.The company had revenue of $69.48 million for the quarter.

Nextdoor Trading Up 1.2%

NXDR traded up $0.02 during midday trading on Wednesday, reaching $1.67. 2,513,108 shares of the company’s stock were exchanged, compared to its average volume of 3,453,877. The stock has a market cap of $654.82 million, a P/E ratio of -10.44 and a beta of 1.18. Nextdoor has a 1-year low of $1.32 and a 1-year high of $3.72.

Insider Activity at Nextdoor

In related news, General Counsel Sophia Schwartz sold 23,278 shares of Nextdoor stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $1.95, for a total transaction of $45,392.10. Following the completion of the transaction, the general counsel directly owned 286,587 shares in the company, valued at $558,844.65. The trade was a 7.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Antoinette How sold 13,935 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $1.95, for a total value of $27,173.25. Following the completion of the sale, the chief accounting officer directly owned 18,270 shares in the company, valued at approximately $35,626.50. The trade was a 43.27% decrease in their position. The SEC filing for this sale provides additional information. 33.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Nextdoor in the fourth quarter valued at $798,000. Abacus Wealth Partners LLC acquired a new stake in Nextdoor in the 4th quarter worth about $57,000. Versor Investments LP acquired a new stake in Nextdoor in the 4th quarter worth about $83,000. Arizona State Retirement System purchased a new stake in Nextdoor in the 4th quarter valued at about $126,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Nextdoor during the 4th quarter valued at about $43,000. 35.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings started coverage on Nextdoor in a report on Thursday, January 15th. They issued a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

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.