Antoinette How Sells 35,581 Shares of Nextdoor (NYSE:NXDR) Stock

Key Points

• Nextdoor CAO Antoinette How sold 35,581 shares at an average price of $2.25, generating approximately $80,057 under a pre-arranged Rule 10b5-1 trading plan.
• NXDR shares recently traded near $2.24, while the company reported quarterly revenue of $74.55 million and an adjusted loss of $0.01 per share, beating analyst expectations.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $2.80; institutional investors and hedge funds own 35.66% of the stock.

Nextdoor Holdings, Inc. (NYSE:NXDR - Get Free Report) CAO Antoinette How sold 35,581 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $2.25, for a total value of $80,057.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextdoor Stock Down 0.4%

NYSE NXDR traded down $0.01 during mid-day trading on Friday, hitting $2.24. The stock had a trading volume of 2,712,025 shares, compared to its average volume of 3,136,708. The company has a 50 day simple moving average of $2.37 and a 200 day simple moving average of $1.97. The company has a market cap of $854.31 million, a price-to-earnings ratio of -28.00 and a beta of 1.37. Nextdoor Holdings, Inc. has a 52-week low of $1.33 and a 52-week high of $3.72.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NXDR shares. Wall Street Zen upgraded shares of Nextdoor from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Citigroup increased their price target on shares of Nextdoor from $2.30 to $2.85 and gave the company a "neutral" rating in a research report on Monday, August 17th. The Goldman Sachs Group reissued a "neutral" rating and set a $2.25 price objective on shares of Nextdoor in a research note on Thursday, May 7th. B. Riley Financial upgraded Nextdoor from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $2.00 to $3.30 in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nextdoor in a research note on Friday, July 10th. One 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 MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $2.80.

Institutional Investors Weigh In On Nextdoor

Several hedge funds have recently modified their holdings of NXDR. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Nextdoor during the second quarter worth about $331,000. California State Teachers Retirement System lifted its stake in shares of Nextdoor by 246.6% during the second quarter. California State Teachers Retirement System now owns 657,960 shares of the company's stock valued at $1,494,000 after buying an additional 468,149 shares during the period. Byrne Asset Management LLC boosted its position in Nextdoor by 12.3% during the second quarter. Byrne Asset Management LLC now owns 145,600 shares of the company's stock worth $331,000 after acquiring an additional 16,000 shares during the last quarter. Amundi boosted its position in Nextdoor by 16.9% during the first quarter. Amundi now owns 203,999 shares of the company's stock worth $286,000 after acquiring an additional 29,435 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in Nextdoor by 177.5% in the 1st quarter. Quantinno Capital Management LP now owns 30,737 shares of the company's stock worth $43,000 after acquiring an additional 19,661 shares during the period. 35.66% of the stock is owned by institutional investors and hedge funds.

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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