Nextdoor (NYSE:NXDR) Posts Earnings Results, Beats Estimates By $0.02 EPS

Nextdoor (NYSE:NXDR) issued its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02, FiscalAI reports. Nextdoor had a negative return on equity of 11.48% and a negative net margin of 21.04%.The firm had revenue of $69.48 million for the quarter.

Nextdoor Trading Up 4.5%

Shares of NXDR stock opened at $1.73 on Friday. The firm has a market cap of $676.39 million, a P/E ratio of -12.32 and a beta of 1.18. Nextdoor has a 1-year low of $1.32 and a 1-year high of $3.72.

Insider Buying and Selling at Nextdoor

In other news, General Counsel Sophia Schwartz sold 23,278 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $1.95, for a total transaction of $45,392.10. Following the transaction, the general counsel directly owned 286,587 shares of the company’s stock, valued at $558,844.65. This represents a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Antoinette How sold 13,935 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $1.95, for a total transaction of $27,173.25. Following the completion of the transaction, the chief accounting officer owned 18,270 shares of the company’s stock, valued at $35,626.50. This represents a 43.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 33.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nextdoor

Several hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Nextdoor in the fourth quarter valued at about $24,990,000. Amova Asset Management Americas Inc. acquired a new position in shares of Nextdoor during the 4th quarter worth approximately $24,871,000. Ieq Capital LLC purchased a new stake in Nextdoor in the 4th quarter valued at approximately $19,986,000. ARK Investment Management LLC acquired a new stake in Nextdoor during the 4th quarter valued at $16,335,000. Finally, Geode Capital Management LLC purchased a new position in Nextdoor during the fourth quarter worth $11,083,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NXDR. B. Riley Financial reissued a “neutral” rating on shares of Nextdoor in a report on Thursday. Weiss Ratings initiated coverage on shares of Nextdoor in a research note on Thursday, January 15th. They issued a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Nextdoor Company Profile

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.