Nextdoor Holdings, Inc. (NYSE:KIND) Short Interest Update

Nextdoor Holdings, Inc. (NYSE:KIND) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 4,290,000 shares, an increase of 7.8% from the March 15th total of 3,980,000 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average trading volume of 1,730,000 shares, the days-to-cover ratio is presently 2.5 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Nextdoor

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

Nextdoor Stock Performance

KIND remained flat at $1.96 during midday trading on Wednesday. The company’s stock had a trading volume of 813,720 shares, compared to its average volume of 1,096,858. The company’s 50-day moving average price is $2.05 and its 200-day moving average price is $1.84. The firm has a market capitalization of $771.51 million, a P/E ratio of -5.16 and a beta of 0.98. Nextdoor has a fifty-two week low of $1.32 and a fifty-two week high of $3.42.

Nextdoor (NYSE:KIND) last released its quarterly earnings data 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. The firm had revenue of $55.56 million during the quarter, compared to analyst estimates of $50.94 million. Nextdoor had a negative return on equity of 24.22% and a negative net margin of 67.69%. Research analysts forecast that Nextdoor will post -0.27 EPS for the current fiscal year.

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.