Nextdoor (NYSE:NXDR) Stock Price Up 4.8% – Still a Buy?

Shares of Nextdoor Holdings, Inc. (NYSE:NXDR – Get Free Report) shot up 4.8% on Tuesday. The company traded as high as $2.68 and last traded at $2.7150. Approximately 669,817 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 2,995,146 shares. The stock had previously closed at $2.59.

Analyst Ratings Changes

Several research analysts have weighed in on NXDR shares. Citigroup boosted their price target on Nextdoor from $2.30 to $2.85 and gave the stock a “neutral” rating in a research report on Monday, August 17th. B. Riley Financial raised Nextdoor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2.00 to $3.30 in a report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nextdoor in a report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.80.

View Our Latest Report on NXDR

Nextdoor Stock Performance

The stock’s fifty day moving average price is $2.42 and its 200-day moving average price is $2.12. The company has a market capitalization of $1.04 billion, a P/E ratio of -33.94 and a beta of 1.41.

Nextdoor (NYSE:NXDR – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Nextdoor had a negative net margin of 11.08% and a negative return on equity of 6.16%. The business had revenue of $74.55 million during the quarter, compared to the consensus estimate of $72.10 million. On average, research analysts predict that Nextdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.

Insider Activity at Nextdoor

In other Nextdoor news, CAO Antoinette How sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $2.63, for a total value of $105,200.00. Following the sale, the chief accounting officer owned 40,000 shares in the company, valued at $105,200. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Michael Kiernan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $2.54, for a total value of $127,000.00. Following the completion of the sale, the executive directly owned 458,602 shares of the company’s stock, valued at approximately $1,164,849.08. The trade was a 9.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 280,474 shares of company stock worth $688,647 in the last 90 days. Corporate insiders own 33.46% of the company’s stock.

Institutional Investors Weigh In On Nextdoor

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Nextdoor in the 1st quarter valued at about $37,000. R Squared Ltd raised its holdings in Nextdoor by 37.1% in the 1st quarter. R Squared Ltd now owns 29,325 shares of the company’s stock valued at $41,000 after acquiring an additional 7,941 shares during the period. Quantinno Capital Management LP raised its holdings in Nextdoor by 177.5% in the 1st quarter. Quantinno Capital Management LP now owns 30,737 shares of the company’s stock valued at $43,000 after acquiring an additional 19,661 shares during the period. Granite Investment Partners LLC raised its holdings in Nextdoor by 77.9% in the 1st quarter. Granite Investment Partners LLC now owns 31,274 shares of the company’s stock valued at $44,000 after acquiring an additional 13,692 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its position in Nextdoor by 261.9% during the first quarter. Kestra Private Wealth Services LLC now owns 38,000 shares of the company’s stock worth $53,000 after acquiring an additional 27,500 shares during the last quarter. Institutional investors own 35.66% of the company’s stock.

About Nextdoor

(Get Free Report)

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.

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