Insider Selling: Nextdoor (NYSE:NXDR) CAO Sells 40,000 Shares of Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) CAO Antoinette How sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $2.63, for a total value of $105,200.00. Following the completion of the sale, the chief accounting officer directly owned 40,000 shares in the company, valued at approximately $105,200. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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, 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 value of $376,389.99.
• On Wednesday, September 2nd, Antoinette How sold 35,581 shares of Nextdoor stock. The shares were sold at an average price of $2.25, for a total transaction of $80,057.25.

Nextdoor Trading Down 5.4%

Shares of Nextdoor stock traded down $0.14 during mid-day trading on Wednesday, hitting $2.37. 2,901,780 shares of the stock were exchanged, compared to its average volume of 3,099,910. Nextdoor Holdings, Inc. has a twelve month low of $1.33 and a twelve month high of $3.72. The stock has a market capitalization of $901.99 million, a price-to-earnings ratio of -29.56 and a beta of 1.37. The company has a 50-day simple moving average of $2.38 and a 200 day simple moving average of $2.03.

Nextdoor (NYSE:NXDR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business 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%. Equities research analysts forecast that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup boosted 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. B. Riley Financial raised Nextdoor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2.00 to $3.30 in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nextdoor in a research note on Friday, July 10th. One investment 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, the stock presently has an average rating of “Hold” and a consensus target price of $2.80.

Hedge Funds Weigh In On Nextdoor

A number of large investors have recently bought and sold shares of the stock. Amova Asset Management Americas Inc. acquired a new stake in Nextdoor during the fourth quarter worth about $24,871,000. Bond Capital Management LP acquired a new position in shares of Nextdoor in the 4th quarter valued at about $2,937,000. Creek Drive Management Group LLC acquired a new position in shares of Nextdoor in the 4th quarter valued at about $2,625,000. Altshuler Shaham Ltd purchased a new stake in shares of Nextdoor during the 4th quarter worth about $1,491,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Nextdoor by 24.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,707,745 shares of the company’s stock worth $3,791,000 after purchasing an additional 530,913 shares during the period. Hedge funds and other institutional investors own 35.66% of the company’s stock.

About Nextdoor

Nextdoor Holdings, Inc operates Nextdoor, a neighborhood-focused social networking platform available through mobile applications and the web. The service enables people to connect with nearby residents, exchange local information, request and provide recommendations, share alerts, and discuss community issues. Users generally join neighborhood networks tied to their residential locations, helping Nextdoor support conversations based on geographic communities.

The platform also offers features for local businesses, public agencies, and nonprofit organizations.