Nextdoor Holdings, Inc. $NXDR Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors cut its Nextdoor stake by 22.5% in the first quarter, selling 411,517 shares and retaining 1.42 million shares worth approximately $1.99 million. Institutional investors collectively own 35.66% of NXDR.
• Nextdoor reported quarterly revenue of $74.55 million and an adjusted loss of $0.01 per share, exceeding analyst expectations of $72.10 million in revenue and a $0.02 loss. Analysts expect the company to post a full-year loss of $0.05 per share.
• NXDR recently traded at $2.58, while analyst sentiment remains mixed: B. Riley upgraded the stock to “buy” with a $3.30 target, but the consensus rating is “Hold” with an average price target of $2.55.

Dimensional Fund Advisors LP lessened its stake in shares of Nextdoor Holdings, Inc. (NYSE:NXDR - Free Report) by 22.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,419,039 shares of the company's stock after selling 411,517 shares during the quarter. Dimensional Fund Advisors LP owned about 0.37% of Nextdoor worth $1,986,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NXDR. Farther Finance Advisors LLC acquired a new stake in Nextdoor during the 4th quarter worth $25,000. Geneos Wealth Management Inc. acquired a new position in Nextdoor in the fourth quarter valued at $26,000. Commonwealth Equity Services LLC purchased a new position in shares of Nextdoor during the fourth quarter worth about $27,000. Mackenzie Financial Corp purchased a new position in shares of Nextdoor during the fourth quarter worth about $29,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Nextdoor during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 35.66% of the company's stock.

Nextdoor Stock Performance

NYSE NXDR opened at $2.58 on Friday. The firm's fifty day moving average is $2.30 and its two-hundred day moving average is $1.91. Nextdoor Holdings, Inc. has a one year low of $1.33 and a one year high of $3.72. The firm has a market cap of $985.89 million, a PE ratio of -32.31 and a beta of 1.36.

Nextdoor (NYSE:NXDR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. The firm 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%. Research analysts predict that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current year.

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 28,616 shares of the stock in a transaction that occurred 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 33.46% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NXDR shares. B. Riley Financial raised Nextdoor from a "neutral" rating to a "buy" rating and boosted their target price for the company from $2.00 to $3.30 in a report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $2.25 price target on shares of Nextdoor in a research report on Thursday, May 7th. Wall Street Zen upgraded Nextdoor from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reissued 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 assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Nextdoor has an average rating of "Hold" and an average price target of $2.55.

Nextdoor 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.

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