Nextdoor (NYSE:NXDR) General Counsel Sells $64,386.00 in Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) General Counsel Sophia Schwartz sold 28,616 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $2.25, for a total transaction of $64,386.00. Following the completion of the transaction, the general counsel owned 307,757 shares in the company, valued at $692,453.25. The trade was a 8.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextdoor Price Performance

NXDR stock traded up $0.03 during midday trading on Wednesday, reaching $2.17. 2,756,240 shares of the company’s stock traded hands, compared to its average volume of 3,437,212. Nextdoor Holdings, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $3.72. The stock’s 50-day simple moving average is $1.91. The company has a market cap of $829.52 million, a P/E ratio of -19.77 and a beta of 1.38.

Nextdoor (NYSE:NXDR) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $61.67 million during the quarter. Nextdoor had a negative net margin of 16.47% and a negative return on equity of 9.22%. Equities analysts expect that Nextdoor Holdings, Inc. will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on NXDR. Weiss Ratings restated a “sell (d-)” rating on shares of Nextdoor in a research note on Tuesday, April 14th. Wall Street Zen upgraded Nextdoor from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $2.25 target price on shares of Nextdoor in a report on Thursday, May 7th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $2.17.

Institutional Investors Weigh In On Nextdoor

A number of large investors have recently added to or reduced their stakes in NXDR. Sumitomo Mitsui Trust Group Inc. acquired a new position in Nextdoor in the 4th quarter worth $24,990,000. Amova Asset Management Americas Inc. purchased a new stake in shares of Nextdoor during the fourth quarter worth about $24,871,000. Ieq Capital LLC purchased a new stake in shares of Nextdoor during the fourth quarter worth about $19,986,000. ARK Investment Management LLC acquired a new position in shares of Nextdoor in the fourth quarter worth about $16,335,000. Finally, Geode Capital Management LLC acquired a new position in shares of Nextdoor in the fourth quarter worth about $11,083,000. 35.66% of the stock is owned by institutional investors and hedge funds.

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.