Nextdoor (NYSE:NXDR) Stock: Insider Michael Kiernan Sells 50,000 Shares

Nextdoor Holdings, Inc. (NYSE:NXDR) CRO Michael Kiernan sold 50,000 shares of the stock in a transaction dated Tuesday, October 20th. 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 owned 455,917 shares of the company’s stock, valued at approximately $1,158,029.18. This represents a 9.88% decrease in their position. The sale was disclosed in a legal filing 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.

Michael Kiernan also recently made the following trade(s):

• On Tuesday, September 22nd, Michael Kiernan sold 50,000 shares of Nextdoor stock. The stock was sold at an average price of $2.54, for a total value of $127,000.00.

Nextdoor Stock Down 3.2%

Shares of NXDR stock opened at $2.43 on Friday. The firm has a market cap of $926.77 million, a P/E ratio of -30.38 and a beta of 1.41. The company has a 50 day moving average of $2.42 and a 200-day moving average of $2.19. Nextdoor Holdings, Inc. has a 12-month low of $1.33 and a 12-month high of $3.72.

Nextdoor (NYSE:NXDR) last posted its quarterly earnings data 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 business had revenue of $74.55 million for the quarter, compared to the consensus estimate of $72.10 million. As a group, equities analysts expect that Nextdoor Holdings, Inc. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Nextdoor

Institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its stake in 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 purchasing an additional 530,913 shares during the period. Squarepoint Ops LLC increased 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 valued at $1,792,000 after buying an additional 268,007 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Nextdoor during the fourth quarter valued at about $369,000. Hsbc Holdings PLC purchased a new stake in shares of Nextdoor in the first quarter worth about $232,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Nextdoor in the second quarter worth about $331,000. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup increased their price target on Nextdoor from $2.30 to $2.85 and gave the stock a “neutral” rating in a research note on Monday, August 17th. B. Riley Financial upgraded Nextdoor from a “neutral” rating to a “buy” rating and boosted their price objective for the company 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 research note on Tuesday, October 6th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.80.

Nextdoor Company Profile

Nextdoor Holdings, Inc operates Nextdoor, a social networking platform designed to connect people with others in their local communities. The platform enables verified neighbors to share recommendations, local news, safety information, event announcements, alerts, and other community updates.

In addition to its consumer platform, Nextdoor provides tools for local businesses, public agencies, nonprofit organizations, and other community organizations. These users can create business or agency pages, communicate with nearby residents, promote products and services, and distribute relevant information.