Nextdoor (NYSE:NXDR) CRO Michael Kiernan Sells 50,000 Shares of Company Stock

Nextdoor Holdings, Inc. (NYSE:NXDR) CRO Michael Kiernan sold 50,000 shares of Nextdoor stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $2.54, for a total value of $127,000.00. Following the sale, the executive owned 455,917 shares in the company, valued at $1,158,029.18. This trade represents a 9.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 shares were sold at an average price of $2.54, for a total value of $127,000.00.

Nextdoor Stock Performance

Shares of NXDR stock opened at $2.51 on Friday. The firm has a market cap of $957.28 million, a price-to-earnings ratio of -31.37 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 firm’s 50-day simple moving average is $2.42 and its two-hundred day simple moving average is $2.19.

Nextdoor (NYSE:NXDR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $74.55 million for 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%. Analysts forecast that Nextdoor Holdings, Inc. will post -0.05 earnings per share for the current year.

Institutional Trading of Nextdoor

Institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew 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 valued at $3,791,000 after buying an additional 530,913 shares in the last quarter. Squarepoint Ops LLC lifted 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 acquiring an additional 268,007 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Nextdoor during the fourth quarter worth $369,000. Hsbc Holdings PLC purchased a new stake in shares of Nextdoor during the first quarter worth $232,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Nextdoor during the second quarter worth $331,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NXDR has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nextdoor in a research note on Tuesday, October 6th. B. Riley Financial raised Nextdoor from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.00 to $3.30 in a research report on Thursday, August 6th. Finally, 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. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nextdoor has an average 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.