Insider Selling: Nextdoor (NYSE:NXDR) CAO Sells $51,555.45 in Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) CAO Antoinette How sold 20,705 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $2.49, for a total value of $51,555.45. Following the completion of the transaction, the chief accounting officer directly owned 7,347 shares in the company, valued at $18,294.03. This trade represents a 73.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Antoinette How also recently made the following trade(s):

• On Tuesday, October 13th, Antoinette How sold 10,800 shares of Nextdoor stock. The stock was sold at an average price of $2.72, for a total value of $29,376.00.
• On Monday, September 21st, Antoinette How sold 40,000 shares of Nextdoor stock. The shares were sold at an average price of $2.63, for a total transaction of $105,200.00.
• On Tuesday, September 15th, Antoinette How sold 154,893 shares of Nextdoor stock. The shares were sold at an average price of $2.43, for a total transaction of $376,389.99.
• On Wednesday, September 2nd, Antoinette How sold 35,581 shares of Nextdoor stock. The stock was sold at an average price of $2.25, for a total value of $80,057.25.

Nextdoor Stock Performance

NXDR opened at $2.63 on Thursday. The company has a market capitalization of $1.00 billion, a P/E ratio of -32.88 and a beta of 1.41. Nextdoor Holdings, Inc. has a 1-year low of $1.33 and a 1-year high of $3.72. The company has a 50-day moving average of $2.43 and a 200-day moving average of $2.18.

Nextdoor (NYSE:NXDR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $74.55 million for the quarter, compared to analyst estimates 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, sell-side analysts expect that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Nextdoor

Several large investors have recently made changes to their positions in NXDR. State of Alaska Department of Revenue bought a new position in shares of Nextdoor during the 3rd quarter valued at about $25,000. SG Americas Securities LLC bought a new position in shares of Nextdoor in the first quarter valued at $37,000. R Squared Ltd raised its position in shares of Nextdoor by 37.1% during the first quarter. R Squared Ltd now owns 29,325 shares of the company’s stock worth $41,000 after purchasing an additional 7,941 shares during the period. Quantinno Capital Management LP raised its holdings in Nextdoor by 177.5% during the 1st quarter. Quantinno Capital Management LP now owns 30,737 shares of the company’s stock worth $43,000 after buying an additional 19,661 shares during the period. Finally, Granite Investment Partners LLC lifted its position in shares of Nextdoor by 77.9% in the 1st quarter. Granite Investment Partners LLC now owns 31,274 shares of the company’s stock valued at $44,000 after acquiring an additional 13,692 shares in the last quarter. Institutional investors own 35.66% of the company’s stock.

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.