Nextdoor (NYSE:NXDR) CRO Michael Kiernan Sells 50,000 Shares of Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) CRO Michael Kiernan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $2.54, for a total value of $127,000.00. Following the completion of the transaction, the executive directly owned 458,602 shares in the company, valued at $1,164,849.08. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextdoor Stock Performance

NXDR opened at $2.43 on Friday. The firm has a market cap of $925.25 million, a P/E ratio of -30.33 and a beta of 1.37. The business has a 50 day moving average price of $2.38 and a 200 day moving average price of $2.04. Nextdoor Holdings, Inc. has a twelve month low of $1.33 and a twelve month high of $3.72.

Nextdoor (NYSE:NXDR) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Nextdoor had a negative net margin of 11.08% and a negative return on equity of 6.16%. The business had revenue of $74.55 million during the quarter, compared to analysts’ expectations of $72.10 million. As a group, analysts anticipate that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nextdoor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its holdings in Nextdoor by 51.4% in the 2nd quarter. Squarepoint Ops LLC now owns 789,512 shares of the company’s stock valued at $1,792,000 after acquiring an additional 268,007 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Nextdoor during the second quarter valued at approximately $331,000. Byrne Asset Management LLC raised its stake 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 purchasing an additional 16,000 shares in the last quarter. Amundi raised its stake 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 purchasing an additional 29,435 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in Nextdoor by 177.5% in the first quarter. Quantinno Capital Management LP now owns 30,737 shares of the company’s stock worth $43,000 after purchasing an additional 19,661 shares during the period. 35.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NXDR shares. B. Riley Financial raised Nextdoor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.00 to $3.30 in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nextdoor in a report on Friday, July 10th. Finally, Citigroup increased their price objective on Nextdoor from $2.30 to $2.85 and gave the company a “neutral” rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Nextdoor currently has an average rating of “Hold” and an average price target of $2.80.

Nextdoor Company Profile

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.