Nextdoor (NYSE:KIND) Price Target Raised to $3.00 at The Goldman Sachs Group

Nextdoor (NYSE:KIND) had its price target increased by The Goldman Sachs Group from $2.50 to $3.00 in a research report report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Separately, Morgan Stanley lifted their price target on Nextdoor from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd.

Nextdoor Stock Down 9.0 %

Shares of Nextdoor stock traded down $0.25 during trading hours on Thursday, hitting $2.59. 8,258,295 shares of the company’s stock traded hands, compared to its average volume of 1,580,847. The stock has a 50 day simple moving average of $2.44 and a 200-day simple moving average of $2.49. The company has a market cap of $982.06 million, a PE ratio of -7.46 and a beta of 1.08. Nextdoor has a twelve month low of $1.32 and a twelve month high of $2.99.

Nextdoor (NYSE:KIND) last announced its earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Nextdoor had a negative return on equity of 22.69% and a negative net margin of 65.63%. The company had revenue of $63.29 million during the quarter, compared to the consensus estimate of $58.80 million. As a group, equities research analysts predict that Nextdoor will post -0.23 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Sophia Schwartz sold 17,529 shares of Nextdoor stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $2.58, for a total value of $45,224.82. Following the completion of the transaction, the general counsel now directly owns 304,666 shares in the company, valued at approximately $786,038.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 46.04% of the company’s stock.

Hedge Funds Weigh In On Nextdoor

A number of hedge funds and other institutional investors have recently bought and sold shares of KIND. Vanguard Group Inc. boosted its stake in Nextdoor by 18.5% in the first quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock valued at $36,442,000 after acquiring an additional 2,529,694 shares during the period. Marshall Wace LLP acquired a new position in Nextdoor in the second quarter valued at approximately $4,327,000. Dimensional Fund Advisors LP boosted its stake in Nextdoor by 172.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,218,808 shares of the company’s stock valued at $3,388,000 after acquiring an additional 770,858 shares during the period. Millennium Management LLC boosted its stake in Nextdoor by 59.7% in the second quarter. Millennium Management LLC now owns 1,406,953 shares of the company’s stock valued at $3,911,000 after acquiring an additional 526,108 shares during the period. Finally, Cornerstone Partners Capital Management LLC acquired a new position in Nextdoor in the third quarter valued at approximately $791,000. 35.66% of the stock is currently owned by institutional investors and hedge funds.

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.