Bond Capital Management LP Has $12.39 Million Holdings in Nextdoor Holdings, Inc. $NXDR

Key Points

• Bond Capital Management reduced its Nextdoor stake by 34.7% in the second quarter, selling 2.90 million shares and retaining 5.46 million shares worth approximately $12.39 million.
• Nextdoor reported quarterly revenue of $74.55 million and an adjusted loss of $0.01 per share, beating analyst estimates; however, the company remained unprofitable with an 11.08% negative net margin.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $2.80. Shares opened at $2.24, while insiders own 33.46% of the company and recently reported sales under 10b5-1 plans.

Bond Capital Management LP lowered its holdings in shares of Nextdoor Holdings, Inc. (NYSE:NXDR - Free Report) by 34.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,458,871 shares of the company's stock after selling 2,896,734 shares during the quarter. Nextdoor makes up approximately 4.1% of Bond Capital Management LP's holdings, making the stock its 4th biggest position. Bond Capital Management LP owned about 1.43% of Nextdoor worth $12,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NXDR. Farther Finance Advisors LLC purchased a new position in shares of Nextdoor in the fourth quarter worth approximately $25,000. Commonwealth Equity Services LLC bought a new stake in Nextdoor during the fourth quarter valued at approximately $27,000. Mackenzie Financial Corp purchased a new stake in Nextdoor during the fourth quarter valued at approximately $29,000. Cibc World Markets Corp purchased a new stake in Nextdoor during the fourth quarter valued at approximately $30,000. Finally, HighTower Advisors LLC bought a new position in Nextdoor in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 35.66% of the company's stock.

Insider Buying and Selling

In other Nextdoor news, CAO Antoinette How sold 35,581 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.25, for a total value of $80,057.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Sophia Schwartz sold 28,616 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $2.25, for a total transaction of $64,386.00. Following the completion of the sale, the general counsel directly owned 307,757 shares of the company's stock, valued at approximately $692,453.25. This trade represents a 8.51% decrease in their ownership of the stock. 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. Corporate insiders own 33.46% of the company's stock.

Nextdoor Trading Down 0.4%

Shares of NYSE:NXDR opened at $2.24 on Friday. The stock has a 50 day moving average of $2.37 and a 200 day moving average of $1.97. The company has a market cap of $854.31 million, a PE ratio of -28.00 and a beta of 1.37. Nextdoor Holdings, Inc. has a 12-month low of $1.33 and a 12-month high of $3.72.

Nextdoor (NYSE:NXDR - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $74.55 million during the quarter, compared to analyst estimates of $72.10 million. Equities research analysts predict that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Nextdoor from $2.30 to $2.85 and gave the stock a "neutral" rating in a research note on Monday, August 17th. Wall Street Zen upgraded Nextdoor from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. B. Riley Financial upgraded Nextdoor from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $2.00 to $3.30 in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nextdoor in a report on Friday, July 10th. One investment 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 data from MarketBeat, Nextdoor presently has a consensus rating of "Hold" and an average price target of $2.80.

About Nextdoor

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.

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