Nextdoor (NYSE:NXDR) Stock Rating Lowered by Wall Street Zen

Nextdoor (NYSE:NXDR) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

A number of other equities research analysts have also recently commented on NXDR. Citigroup dropped their price objective on shares of Nextdoor from $2.20 to $2.10 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Weiss Ratings began coverage on shares of Nextdoor in a research report on Thursday, January 15th. They set a “sell (d-)” rating on the stock. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Nextdoor in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $2.10.

Nextdoor Stock Down 3.4%

NYSE NXDR opened at $1.69 on Friday. The stock has a market cap of $655.26 million, a price-to-earnings ratio of -12.07 and a beta of 1.19. Nextdoor has a fifty-two week low of $1.32 and a fifty-two week high of $3.72.

Nextdoor (NYSE:NXDR) last posted its earnings results on Wednesday, February 18th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $69.48 million for the quarter. Nextdoor had a negative return on equity of 11.48% and a negative net margin of 21.04%.

Insider Transactions at Nextdoor

In related news, CAO Antoinette How sold 13,935 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $1.95, for a total transaction of $27,173.25. Following the completion of the transaction, the chief accounting officer owned 18,270 shares in the company, valued at $35,626.50. This represents a 43.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Sophia Schwartz sold 23,278 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were 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. This represents a 7.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 33.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Nextdoor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new stake in shares of Nextdoor during the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in Nextdoor during the 4th quarter worth $26,000. Commonwealth Equity Services LLC acquired a new stake in shares of Nextdoor in the fourth quarter valued at about $27,000. Mackenzie Financial Corp acquired a new stake in shares of Nextdoor in the fourth quarter valued at about $29,000. Finally, Cibc World Markets Corp purchased a new position in shares of Nextdoor in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Nextdoor Company Profile

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.