Sophia Schwartz Sells 28,616 Shares of Nextdoor (NYSE:NXDR) Stock

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

Nextdoor Price Performance

NXDR opened at $2.12 on Friday. The stock has a market capitalization of $806.64 million, a PE ratio of -19.23 and a beta of 1.38. The firm’s 50 day moving average is $1.94. Nextdoor Holdings, Inc. has a twelve month low of $1.33 and a twelve month high of $3.72.

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

Analyst Ratings Changes

NXDR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nextdoor in a report on Tuesday, April 14th. Wall Street Zen raised Nextdoor from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $2.25 target price on shares of Nextdoor in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $2.17.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Nextdoor during the 4th quarter valued at $24,990,000. Amova Asset Management Americas Inc. purchased a new stake in shares of Nextdoor in the 4th quarter worth $24,871,000. Ieq Capital LLC bought a new position in Nextdoor in the 4th quarter worth $19,986,000. ARK Investment Management LLC bought a new position in Nextdoor in the 4th quarter worth $16,335,000. Finally, Geode Capital Management LLC purchased a new position in Nextdoor during the fourth quarter valued at $11,083,000. 35.66% of the stock is currently owned by 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.