Nextdoor (NYSE:KIND) Trading Down 5.2% – What’s Next?

Nextdoor Holdings, Inc. (NYSE:KIND)’s share price traded down 5.2% on Friday . The company traded as low as $1.76 and last traded at $1.73. 456,536 shares changed hands during trading, a decline of 77% from the average session volume of 1,999,959 shares. The stock had previously closed at $1.82.

Analysts Set New Price Targets

KIND has been the topic of a number of research analyst reports. Craig Hallum started coverage on Nextdoor in a report on Thursday, January 30th. They set a “buy” rating and a $4.00 price target on the stock. The Goldman Sachs Group reduced their target price on Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a research note on Monday.

Nextdoor Trading Down 5.8 %

The stock has a market cap of $655.38 million, a P/E ratio of -5.36 and a beta of 1.14. The business’s 50 day moving average price is $2.46 and its two-hundred day moving average price is $2.46.

Nextdoor (NYSE:KIND) last posted its earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $65.23 million for the quarter, compared to the consensus estimate of $63.12 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. As a group, analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On Nextdoor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in shares of Nextdoor during the fourth quarter valued at approximately $382,000. Public Employees Retirement System of Ohio bought a new position in Nextdoor in the fourth quarter worth approximately $193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Nextdoor by 38.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,072 shares of the company’s stock valued at $1,105,000 after purchasing an additional 128,511 shares during the period. Wexford Capital LP purchased a new stake in Nextdoor in the 4th quarter worth approximately $474,000. Finally, Squarepoint Ops LLC raised its position in shares of Nextdoor by 1,153.9% during the 4th quarter. Squarepoint Ops LLC now owns 635,994 shares of the company’s stock valued at $1,507,000 after purchasing an additional 585,273 shares during the period. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Nextdoor Company Profile

Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. The company enables neighbors and organizations to get information, give and get help, and build connections. It also offers advertising solutions, designs to generate value for businesses for connection and sales expansion.