Insider Selling: Nextdoor (NYSE:NXDR) Insider Sells 48,120 Shares of Stock

Key Points

• Nextdoor insider Sophia Schwartz sold 48,120 shares at an average price of $2.51, generating $120,781.20. The Rule 10b5-1 plan transaction reduced her holdings by 11.78% to 360,324 shares.
• NXDR shares recently traded at $2.50, within a 52-week range of $1.33 to $3.72. Nextdoor’s latest quarterly results exceeded estimates, with revenue of $74.55 million and an adjusted loss of $0.01 per share.
• Analyst sentiment remains mixed, with one Buy, two Hold, and one Sell rating; the consensus rating is Hold with a $2.80 price target. Institutional investors own 35.66% of the company.

Nextdoor Holdings, Inc. (NYSE:NXDR - Get Free Report) insider Sophia Schwartz sold 48,120 shares of the business's stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $2.51, for a total transaction of $120,781.20. Following the completion of the transaction, the insider owned 360,324 shares in the company, valued at $904,413.24. This trade represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextdoor Stock Performance

Shares of NYSE:NXDR traded up $0.04 during trading on Monday, reaching $2.50. The stock had a trading volume of 1,433,428 shares, compared to its average volume of 2,982,176. Nextdoor Holdings, Inc. has a 52 week low of $1.33 and a 52 week high of $3.72. The firm's fifty day moving average is $2.43 and its 200 day moving average is $2.16. The stock has a market cap of $953.47 million, a price-to-earnings ratio of -31.25 and a beta of 1.41.

Nextdoor (NYSE:NXDR - Get Free Report) last announced its earnings results 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 the consensus estimate of $72.10 million. On average, research analysts forecast that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its position 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 in the last quarter. Squarepoint Ops LLC grew its stake in shares of 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 buying an additional 268,007 shares during the period. Creek Drive Management Group LLC acquired a new stake in shares of Nextdoor in the 4th quarter valued at about $2,625,000. Amundi increased its position in Nextdoor by 16.9% in the 1st quarter. Amundi now owns 203,999 shares of the company's stock valued at $286,000 after buying an additional 29,435 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Nextdoor by 4.7% in the 1st quarter. Renaissance Technologies LLC now owns 3,112,000 shares of the company's stock valued at $4,357,000 after buying an additional 139,661 shares in the last quarter. Institutional investors and hedge funds own 35.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NXDR shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Nextdoor in a research note on Tuesday, October 6th. B. Riley Financial upgraded Nextdoor from a "neutral" rating to a "buy" rating and upped their target price for the company from $2.00 to $3.30 in a research report on Thursday, August 6th. Finally, Citigroup raised their target price on Nextdoor from $2.30 to $2.85 and gave the stock a "neutral" rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $2.80.

About Nextdoor

Nextdoor Holdings, Inc operates Nextdoor, a neighborhood-focused social networking platform that helps people connect with verified neighbors and exchange information about their local communities. Through its website and mobile applications, users can share recommendations, discuss local issues, request or offer help, report safety concerns, and discover events, services, and activities nearby.

The platform also provides tools for local businesses, public agencies, and nonprofit organizations.

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