Key Points
- Nextdoor CRO Michael Kiernan sold 50,000 shares at an average price of $2.54, generating $127,000. The sale reduced his direct holdings by 9.83% to 458,602 shares and was made under a pre-arranged Rule 10b5-1 trading plan.
- Nextdoor reported quarterly revenue of $74.55 million, above the $72.10 million analyst estimate, while adjusted earnings of $(0.01) per share beat expectations by $0.01. The company remains unprofitable, with analysts expecting $(0.05) EPS for the full fiscal year.
- Analyst sentiment is mixed, with one Buy, two Hold, and one Sell rating; the average rating is Hold and the average price target is $2.80. Institutional investors and hedge funds own 35.66% of Nextdoor’s stock.
Nextdoor Holdings, Inc. (NYSE:NXDR - Get Free Report) CRO Michael Kiernan sold 50,000 shares of the company's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $2.54, for a total transaction of $127,000.00. Following the completion of the sale, the executive directly owned 458,602 shares in the company, valued at approximately $1,164,849.08. The trade was a 9.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nextdoor Stock Up 1.9%
Shares of NXDR opened at $2.43 on Friday. The company has a 50-day moving average price of $2.38 and a two-hundred day moving average price of $2.04. The stock has a market cap of $925.25 million, a price-to-earnings ratio of -30.33 and a beta of 1.37. 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 released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.01) earnings per share 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 company had revenue of $74.55 million for the quarter, compared to analyst estimates of $72.10 million. Equities research analysts expect that Nextdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.
Hedge Funds Weigh In On Nextdoor
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its position in Nextdoor by 24.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,707,745 shares of the company's stock worth $3,791,000 after buying an additional 530,913 shares in the last quarter. Bond Capital Management LP acquired a new stake in Nextdoor in the 4th quarter valued at about $2,937,000. Squarepoint Ops LLC raised its stake in shares of Nextdoor by 51.4% in the second quarter. Squarepoint Ops LLC now owns 789,512 shares of the company's stock worth $1,792,000 after acquiring an additional 268,007 shares during the last quarter. Creek Drive Management Group LLC bought a new position in shares of Nextdoor in the fourth quarter worth about $2,625,000. Finally, Oasis Management Co Ltd. acquired a new position in shares of Nextdoor during the fourth quarter worth approximately $525,000. Institutional investors and hedge funds own 35.66% of the company's stock.
Analysts Set New Price Targets
NXDR has been the subject of a number of analyst reports. B. Riley Financial raised Nextdoor from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $2.00 to $3.30 in a report on Thursday, August 6th. Citigroup upped 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 report on Friday, July 10th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $2.80.
Check Out Our Latest Stock Report on Nextdoor
About Nextdoor
(
Get Free Report)
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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