Insider Selling: Nextdoor (NYSE:NXDR) Insider Sells $120,781.20 in Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) insider Sophia Schwartz sold 48,120 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $2.51, for a total value of $120,781.20. Following the completion of the sale, the insider directly owned 360,324 shares of the company’s stock, 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 midday trading on Monday, hitting $2.50. 1,433,428 shares of the stock traded hands, compared to its average volume of 2,982,176. Nextdoor Holdings, Inc. has a one year low of $1.33 and a one year high of $3.72. The company has a market cap of $953.47 million, a PE ratio of -31.25 and a beta of 1.41. The business has a 50 day moving average price of $2.43 and a two-hundred day moving average price of $2.16.

Nextdoor (NYSE:NXDR) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $74.55 million during the quarter, compared to analysts’ expectations of $72.10 million. Nextdoor had a negative net margin of 11.08% and a negative return on equity of 6.16%. As a group, equities research analysts forecast that Nextdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.

Institutional Trading of Nextdoor

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in Nextdoor during the third quarter worth about $25,000. SG Americas Securities LLC purchased a new stake in Nextdoor in the 1st quarter valued at about $37,000. R Squared Ltd increased its stake in Nextdoor by 37.1% in the 1st quarter. R Squared Ltd now owns 29,325 shares of the company’s stock valued at $41,000 after buying an additional 7,941 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Nextdoor by 177.5% during the 1st quarter. Quantinno Capital Management LP now owns 30,737 shares of the company’s stock worth $43,000 after buying an additional 19,661 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its position in shares of Nextdoor by 77.9% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Wall Street Analyst Weigh In

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