Nextdoor (NYSE:NXDR) Stock Jumps 4.8% – Here’s What Happened

Nextdoor Holdings, Inc. (NYSE:NXDR) rose 4.8% during mid-day trading on Tuesday. The stock traded as high as $2.68 and last traded at $2.7150. Approximately 669,817 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,995,146 shares. The stock had previously closed at $2.59.

Analyst Ratings Changes

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

Nextdoor Trading Down 6.0%

The firm’s 50 day moving average is $2.43 and its two-hundred day moving average is $2.14. The firm has a market cap of $953.48 million, a P/E ratio of -31.25 and a beta of 1.41.

Nextdoor (NYSE:NXDR) last issued its earnings results on Tuesday, August 4th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $74.55 million during the quarter, compared to the consensus estimate of $72.10 million. Nextdoor had a negative net margin of 11.08% and a negative return on equity of 6.16%. Analysts predict that Nextdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Antoinette How sold 154,893 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $2.43, for a total value of $376,389.99. Following the completion of the transaction, the chief accounting officer owned 154,893 shares of the company’s stock, valued at $376,389.99. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Michael Kiernan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $2.54, for a total transaction of $127,000.00. Following the completion of the transaction, the executive directly owned 458,602 shares of the company’s stock, valued at $1,164,849.08. This trade represents a 9.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 280,474 shares of company stock worth $688,647. Insiders own 33.46% of the company’s stock.

Institutional Investors Weigh In On Nextdoor

Several large investors have recently modified their holdings of the business. Squarepoint Ops LLC raised its holdings in Nextdoor by 51.4% during the 2nd quarter. Squarepoint Ops LLC now owns 789,512 shares of the company’s stock worth $1,792,000 after buying an additional 268,007 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Nextdoor in the second quarter valued at approximately $331,000. Byrne Asset Management LLC boosted its holdings in shares of Nextdoor by 12.3% in the second quarter. Byrne Asset Management LLC now owns 145,600 shares of the company’s stock valued at $331,000 after buying an additional 16,000 shares during the period. Amundi boosted its holdings in shares of Nextdoor by 16.9% in the first quarter. Amundi now owns 203,999 shares of the company’s stock valued at $286,000 after buying an additional 29,435 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of Nextdoor by 177.5% during the first quarter. Quantinno Capital Management LP now owns 30,737 shares of the company’s stock worth $43,000 after acquiring an additional 19,661 shares in the last quarter. 35.66% of the stock is currently owned by institutional investors.

Nextdoor Company Profile

Nextdoor Holdings, Inc operates Nextdoor, a neighborhood-focused social networking platform that helps people connect with verified neighbors and exchange information about their local communities. Through its website and mobile applications, users can share recommendations, discuss local issues, request or offer help, report safety concerns, and discover events, services, and activities nearby.

The platform also provides tools for local businesses, public agencies, and nonprofit organizations.