Nextdoor (NYSE:NXDR) General Counsel Sells $64,386.00 in Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) General Counsel Sophia Schwartz sold 28,616 shares of Nextdoor stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $2.25, for a total value of $64,386.00. Following the transaction, the general counsel owned 307,757 shares in the company, valued at approximately $692,453.25. This trade represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextdoor Stock Up 4.5%

NXDR opened at $2.21 on Friday. Nextdoor Holdings, Inc. has a one year low of $1.33 and a one year high of $3.72. The stock has a fifty day moving average price of $1.95. The company has a market cap of $844.78 million, a P/E ratio of -20.14 and a beta of 1.38.

Nextdoor (NYSE:NXDR) last announced its earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Nextdoor had a negative return on equity of 9.22% and a negative net margin of 16.47%.The business had revenue of $61.67 million during the quarter. Research analysts expect that Nextdoor Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Nextdoor from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. The Goldman Sachs Group restated a “neutral” rating and set a $2.25 target price on shares of Nextdoor in a report on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nextdoor in a research report on Tuesday, April 14th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $2.17.

Institutional Investors Weigh In On Nextdoor

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC purchased a new position in Nextdoor in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. purchased a new stake in Nextdoor during the fourth quarter valued at about $26,000. Commonwealth Equity Services LLC purchased a new stake in Nextdoor during the fourth quarter valued at about $27,000. Mackenzie Financial Corp acquired a new position in shares of Nextdoor in the fourth quarter worth about $29,000. Finally, Cibc World Markets Corp acquired a new position in shares of Nextdoor in the fourth quarter worth about $30,000. 35.66% of the stock is owned by hedge funds and other institutional investors.

About Nextdoor

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.