Nextdoor (NYSE:NXDR) Share Price Breaks Above 50-Day Moving Average – Here’s What Happened

Shares of Nextdoor Holdings, Inc. (NYSE:NXDR) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $2.41 and traded as high as $2.48. Nextdoor shares last traded at $2.44, with a volume of 2,521,285 shares changing hands.

Wall Street Analysts Forecast Growth

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

Nextdoor Stock Performance

The stock has a market cap of $943.91 million, a PE ratio of -30.50 and a beta of 1.45. The stock has a fifty day simple moving average of $2.41 and a two-hundred day simple moving average of $2.06.

Nextdoor (NYSE:NXDR) last issued its quarterly earnings data 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. The company had revenue of $74.55 million during the quarter, compared to the consensus estimate of $72.10 million. Nextdoor had a negative net margin of 11.08% and a negative return on equity of 6.16%. On average, equities analysts predict that Nextdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.

Insider Transactions at Nextdoor

In related news, CRO Michael Kiernan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $2.54, for a total value of $127,000.00. Following the transaction, the executive owned 455,917 shares in the company, valued at approximately $1,158,029.18. The trade was a 9.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Antoinette How sold 20,705 shares of the stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $2.49, for a total value of $51,555.45. Following the completion of the transaction, the chief accounting officer directly owned 7,347 shares of the company’s stock, valued at $18,294.03. This represents a 73.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 410,099 shares of company stock valued at $1,017,360. 33.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nextdoor

A number of institutional investors have recently made changes to their positions in NXDR. State of Alaska Department of Revenue acquired a new stake in shares of Nextdoor during the third quarter worth approximately $25,000. Covestor Ltd increased its stake in shares of Nextdoor by 8,580.3% in the third quarter. Covestor Ltd now owns 11,024 shares of the company’s stock worth $27,000 after buying an additional 10,897 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Nextdoor in the first quarter valued at $37,000. R Squared Ltd raised its holdings in Nextdoor by 37.1% in the first 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 in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Nextdoor by 177.5% during 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 last quarter. 35.66% of the stock is owned by institutional investors and hedge funds.

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.