Nextdoor (NYSE:NXDR) CRO Michael Kiernan Sells 50,000 Shares of Company Stock

Key Points

• Nextdoor CRO Michael Kiernan sold 50,000 shares on October 20 at an average price of $2.54, generating $127,000. The Rule 10b5-1 transaction reduced his ownership by 9.88%, leaving him with 455,917 shares.
• Nextdoor shares recently traded at $2.51, with a market capitalization of approximately $957 million and a 12-month range of $1.33 to $3.72. The company’s latest quarterly results beat expectations, reporting revenue of $74.55 million and an adjusted loss of $0.01 per share.
• Analyst sentiment is mixed, with an overall “Hold” rating and a consensus price target of $2.80. Ratings range from Sell to Buy, while institutional investors own about 35.66% of the company.

Nextdoor Holdings, Inc. (NYSE:NXDR - Get Free Report) CRO Michael Kiernan sold 50,000 shares of the firm's stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $2.54, for a total value of $127,000.00. Following the completion of the transaction, the executive owned 455,917 shares in the company, valued at approximately $1,158,029.18. This trade represents a 9.88% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Kiernan also recently made the following trade(s):

• On Tuesday, September 22nd, Michael Kiernan sold 50,000 shares of Nextdoor stock. The shares were sold at an average price of $2.54, for a total value of $127,000.00.

Nextdoor Stock Performance

Shares of NYSE:NXDR traded down $0.12 during trading on Thursday, reaching $2.51. 1,755,361 shares of the stock were exchanged, compared to its average volume of 2,967,820. The firm's 50-day moving average price is $2.43 and its 200 day moving average price is $2.18. The firm has a market cap of $957.28 million, a price-to-earnings ratio of -31.37 and a beta of 1.41. 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 posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.01) EPS for the quarter, beating 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 firm had revenue of $74.55 million for the quarter, compared to analyst estimates of $72.10 million. As a group, equities research analysts forecast that Nextdoor Holdings, Inc. will post -0.05 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NXDR. Weiss Ratings restated a "sell (d-)" rating on shares of Nextdoor in a report on Tuesday, October 6th. Citigroup increased their price target on Nextdoor from $2.30 to $2.85 and gave the company a "neutral" rating in a report on Monday, August 17th. Finally, B. Riley Financial upgraded Nextdoor from a "neutral" rating to a "buy" rating and increased their price target for the company from $2.00 to $3.30 in a report on Thursday, August 6th. 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $2.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NXDR. R Squared Ltd increased its holdings in Nextdoor by 37.1% during the 1st quarter. R Squared Ltd now owns 29,325 shares of the company's stock worth $41,000 after purchasing an additional 7,941 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Nextdoor during the third quarter worth approximately $25,000. Granite Investment Partners LLC increased its stake in shares of Nextdoor by 77.9% in the first quarter. Granite Investment Partners LLC now owns 31,274 shares of the company's stock worth $44,000 after buying an additional 13,692 shares during the last quarter. Byrne Asset Management LLC increased 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 buying an additional 16,000 shares during the last quarter. Finally, Abel Hall LLC increased its stake in shares of Nextdoor by 49.4% in the first quarter. Abel Hall LLC now owns 52,337 shares of the company's stock worth $73,000 after buying an additional 17,314 shares during the last quarter. Hedge funds and other institutional investors own 35.66% of the company's stock.

Nextdoor Company Profile

Nextdoor Holdings, Inc operates Nextdoor, a social networking platform designed to connect people with others in their local communities. The platform enables verified neighbors to share recommendations, local news, safety information, event announcements, alerts, and other community updates.

In addition to its consumer platform, Nextdoor provides tools for local businesses, public agencies, nonprofit organizations, and other community organizations. These users can create business or agency pages, communicate with nearby residents, promote products and services, and distribute relevant information.

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