Nextdoor (NYSE:NXDR) CAO Sells $376,389.99 in Stock

Key Points

• Nextdoor CAO Antoinette How sold 154,893 shares for approximately $376,390 at an average price of $2.43 under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 50%. She also sold 35,581 shares earlier in September.
• Nextdoor shares traded around $2.48, with the company valued at approximately $944 million. Its latest quarterly results beat expectations, with revenue of $74.55 million and an adjusted loss of $0.01 per share.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $2.80; one firm upgraded the stock to Buy while another maintained a Sell rating.

Nextdoor Holdings, Inc. (NYSE:NXDR - Get Free Report) CAO Antoinette How sold 154,893 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $2.43, for a total transaction of $376,389.99. Following the completion of the sale, the chief accounting officer directly owned 154,893 shares in the company, valued at $376,389.99. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Antoinette How also recently made the following trade(s):

• On Wednesday, September 2nd, Antoinette How sold 35,581 shares of Nextdoor stock. The stock was sold at an average price of $2.25, for a total transaction of $80,057.25.

Nextdoor Price Performance

NYSE:NXDR traded down $0.01 during mid-day trading on Thursday, hitting $2.48. 2,332,666 shares of the company's stock were exchanged, compared to its average volume of 3,099,025. Nextdoor Holdings, Inc. has a one year low of $1.33 and a one year high of $3.72. The business has a fifty day moving average price of $2.37 and a 200 day moving average price of $2.01. The company has a market cap of $943.94 million, a PE ratio of -30.94 and a beta of 1.37.

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, beating 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, equities analysts forecast that Nextdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. B. Riley Financial upgraded shares of Nextdoor from a "neutral" rating to a "buy" rating and upped their price target for the stock from $2.00 to $3.30 in a research note on Thursday, August 6th. Citigroup lifted their target price on shares of Nextdoor from $2.30 to $2.85 and gave the stock a "neutral" rating in a report on Monday, August 17th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Nextdoor in a research note on Friday, July 10th. One 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $2.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC lifted its stake in Nextdoor by 51.4% during 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 during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Nextdoor in the second quarter worth approximately $331,000. Byrne Asset Management LLC grew 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 worth $331,000 after acquiring an additional 16,000 shares during the period. Amundi raised its holdings in shares of Nextdoor by 16.9% during 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 during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Nextdoor by 177.5% during the first quarter. Quantinno Capital Management LP now owns 30,737 shares of the company's stock valued at $43,000 after purchasing an additional 19,661 shares during the last quarter. 35.66% of the stock is owned by institutional investors.

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.

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