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

Key Points

• Nextdoor CRO Michael Kiernan sold 50,000 shares at an average price of $2.54, generating $127,000. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 9.83% to 458,602 shares.
• NXDR shares recently traded at $2.43, with a market capitalization of approximately $925 million. The stock has ranged from $1.33 to $3.72 over the past year.
• Nextdoor exceeded quarterly expectations, reporting revenue of $74.55 million and an adjusted EPS loss of $0.01 versus estimates of $72.10 million and a $0.02 loss. Analysts’ consensus rating is Hold, with an average price target of $2.80.

Nextdoor Holdings, Inc. (NYSE:NXDR - Get Free Report) CRO Michael Kiernan sold 50,000 shares of the company's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $2.54, for a total transaction of $127,000.00. Following the transaction, the executive owned 458,602 shares of the company's stock, valued at $1,164,849.08. This trade represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextdoor Price Performance

NXDR stock traded up $0.05 during midday trading on Thursday, reaching $2.43. 2,668,058 shares of the stock were exchanged, compared to its average volume of 3,097,586. The stock has a market capitalization of $925.25 million, a PE ratio of -30.33 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. The company has a fifty day moving average price of $2.38 and a 200 day moving average price of $2.04.

Nextdoor (NYSE:NXDR - Get Free Report) last posted its 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 return on equity of 6.16% and a negative net margin of 11.08%.The firm had revenue of $74.55 million during the quarter, compared to the consensus estimate of $72.10 million. As a group, analysts anticipate that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nextdoor

A number of institutional investors have recently modified their holdings of the company. Amova Asset Management Americas Inc. acquired a new position in Nextdoor in the fourth quarter valued at $24,871,000. Renaissance Technologies LLC grew its holdings in Nextdoor by 4.7% during the 1st quarter. Renaissance Technologies LLC now owns 3,112,000 shares of the company's stock worth $4,357,000 after acquiring an additional 139,661 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Nextdoor by 24.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,707,745 shares of the company's stock worth $3,791,000 after acquiring an additional 530,913 shares in the last quarter. Bond Capital Management LP bought a new position in shares of Nextdoor in the 4th quarter worth about $2,937,000. Finally, Creek Drive Management Group LLC acquired a new position in shares of Nextdoor in the 4th quarter valued at about $2,625,000. 35.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citigroup boosted 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. B. Riley Financial raised shares of Nextdoor from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $2.00 to $3.30 in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Nextdoor in a report on Friday, July 10th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Nextdoor 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 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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