Nextdoor (NYSE:KIND) Shares Up 4.2%

Nextdoor Holdings, Inc. (NYSE:KIND) was up 4.2% on Tuesday . The company traded as high as $2.23 and last traded at $2.22. Approximately 136,095 shares changed hands during trading, a decline of 92% from the average daily volume of 1,811,197 shares. The stock had previously closed at $2.13.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their target price on Nextdoor from $1.75 to $2.25 and gave the stock a “neutral” rating in a report on Wednesday, February 28th.

Nextdoor Price Performance

The business has a 50 day simple moving average of $1.90 and a 200 day simple moving average of $1.82. The company has a market cap of $889.60 million, a price-to-earnings ratio of -5.95 and a beta of 0.97.

Nextdoor (NYSE:KIND) last announced its earnings results on Tuesday, February 27th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. Nextdoor had a negative net margin of 67.69% and a negative return on equity of 24.22%. The company had revenue of $55.56 million during the quarter, compared to the consensus estimate of $50.94 million. As a group, sell-side analysts anticipate that Nextdoor Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nextdoor

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Nextdoor by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 13,666,683 shares of the company’s stock valued at $25,830,000 after purchasing an additional 910,421 shares during the last quarter. ARK Investment Management LLC grew its holdings in Nextdoor by 56.7% during the 4th quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock worth $20,388,000 after acquiring an additional 3,901,481 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Nextdoor by 17.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,640,128 shares of the company’s stock valued at $18,220,000 after acquiring an additional 1,442,973 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Nextdoor by 17.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 9,640,128 shares of the company’s stock valued at $18,123,000 after purchasing an additional 1,442,973 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Nextdoor by 389.8% in the 2nd quarter. BlackRock Inc. now owns 9,564,194 shares of the company’s stock worth $31,179,000 after purchasing an additional 7,611,601 shares during the last quarter. Institutional investors and hedge funds own 35.66% of the company’s stock.

About Nextdoor

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.