Nextdoor (NYSE:KIND) Reaches New 52-Week Low – Here’s What Happened

Nextdoor Holdings, Inc. (NYSE:KIND)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $1.59 and last traded at $1.60, with a volume of 255104 shares traded. The stock had previously closed at $1.63.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KIND shares. Craig Hallum began coverage on Nextdoor in a research note on Thursday, January 30th. They set a “buy” rating and a $4.00 target price on the stock. The Goldman Sachs Group lowered their price objective on Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, March 3rd.

Nextdoor Price Performance

The company has a market capitalization of $600.70 million, a price-to-earnings ratio of -4.86 and a beta of 1.14. The business’s 50-day moving average price is $2.22 and its two-hundred day moving average price is $2.38.

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

Insider Buying and Selling at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.72, for a total value of $25,800.00. Following the sale, the general counsel now owns 267,445 shares of the company’s stock, valued at approximately $460,005.40. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 46.04% of the company’s stock.

Institutional Trading of Nextdoor

Several large investors have recently bought and sold shares of KIND. Renaissance Technologies LLC lifted its holdings in shares of Nextdoor by 98.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company’s stock worth $9,402,000 after acquiring an additional 1,965,300 shares during the last quarter. Millennium Management LLC increased its position in Nextdoor by 177.6% during the 4th quarter. Millennium Management LLC now owns 2,999,267 shares of the company’s stock worth $7,108,000 after purchasing an additional 1,918,884 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Nextdoor by 115.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,696,339 shares of the company’s stock valued at $6,390,000 after purchasing an additional 1,444,343 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in Nextdoor by 193.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,082,482 shares of the company’s stock valued at $4,935,000 after buying an additional 1,371,705 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Nextdoor by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock worth $41,735,000 after buying an additional 1,041,258 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 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.