Key Points
- Nextdoor’s chief accounting officer Antoinette How sold 20,705 shares at an average price of $2.49, generating $51,555.45. The sale was made under a pre-arranged Rule 10b5-1 trading plan and reduced her direct stake by 73.81% to 7,347 shares.
- How has made several additional sales since early September, selling more than 240,000 shares in total across the disclosed transactions.
- Nextdoor recently exceeded quarterly expectations, reporting a loss of $0.01 per share versus the $0.02 consensus loss and revenue of $74.55 million. Analysts maintain a consensus “Hold” rating with an average price target of $2.80.
Nextdoor Holdings, Inc. (NYSE:NXDR - Get Free Report) CAO Antoinette How sold 20,705 shares of the firm's stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $2.49, for a total value of $51,555.45. Following the sale, the chief accounting officer directly owned 7,347 shares of the company's stock, valued at $18,294.03. This represents a 73.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Antoinette How also recently made the following trade(s):
- On Tuesday, October 13th, Antoinette How sold 10,800 shares of Nextdoor stock. The stock was sold at an average price of $2.72, for a total value of $29,376.00.
- On Monday, September 21st, Antoinette How sold 40,000 shares of Nextdoor stock. The stock was sold at an average price of $2.63, for a total value of $105,200.00.
- On Tuesday, September 15th, Antoinette How sold 154,893 shares of Nextdoor stock. The shares were sold at an average price of $2.43, for a total value of $376,389.99.
- On Wednesday, September 2nd, Antoinette How sold 35,581 shares of Nextdoor stock. The shares were sold at an average price of $2.25, for a total value of $80,057.25.
Nextdoor Stock Performance
Nextdoor stock opened at $2.50 on Tuesday. The stock has a market capitalization of $953.47 million, a price-to-earnings ratio of -31.25 and a beta of 1.41. Nextdoor Holdings, Inc. has a 52-week low of $1.33 and a 52-week high of $3.72. The stock's 50 day moving average price is $2.43 and its two-hundred day moving average price is $2.17.
Nextdoor (NYSE:NXDR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $74.55 million during the quarter, compared to the consensus estimate of $72.10 million. Nextdoor had a negative net margin of 11.08% and a negative return on equity of 6.16%. On average, equities research analysts forecast that Nextdoor Holdings, Inc. will post -0.05 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Nextdoor by 4.7% in the first quarter. Renaissance Technologies LLC now owns 3,112,000 shares of the company's stock valued at $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% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,707,745 shares of the company's stock worth $3,791,000 after purchasing an additional 530,913 shares during the period. Creek Drive Management Group LLC acquired a new position in shares of Nextdoor during the fourth quarter worth approximately $2,625,000. Squarepoint Ops LLC raised its position in shares of Nextdoor by 51.4% during the second quarter. Squarepoint Ops LLC now owns 789,512 shares of the company's stock worth $1,792,000 after purchasing an additional 268,007 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Nextdoor by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 542,691 shares of the company's stock worth $760,000 after purchasing an additional 22,462 shares during the period. Institutional investors own 35.66% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on NXDR. Citigroup raised their price target 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 lifted their price target for the company from $2.00 to $3.30 in a research note on Thursday, August 6th. 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 assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $2.80.
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About Nextdoor
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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.
Further Reading
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