Nextdoor (NYSE:KIND) Sets New 52-Week Low – Here’s Why

Nextdoor Holdings, Inc. (NYSE:KIND) shares reached a new 52-week low on Saturday . The company traded as low as $1.67 and last traded at $1.76, with a volume of 15946618 shares trading hands. The stock had previously closed at $2.49.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KIND shares. Craig Hallum assumed coverage on Nextdoor in a research report on Thursday, January 30th. They set a “buy” rating and a $4.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Nextdoor Stock Down 29.5 %

The company has a 50 day moving average of $2.51 and a two-hundred day moving average of $2.48. The firm has a market cap of $670.66 million, a P/E ratio of -5.48 and a beta of 1.07.

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

Insider Transactions at Nextdoor

In other news, General Counsel Sophia Schwartz sold 16,834 shares of Nextdoor stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.45, for a total value of $41,243.30. Following the transaction, the general counsel now directly owns 215,536 shares of the company’s stock, valued at $528,063.20. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 46.04% of the company’s stock.

Hedge Funds Weigh In On Nextdoor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AXQ Capital LP acquired a new stake in shares of Nextdoor in the fourth quarter worth $25,000. Tower Research Capital LLC TRC lifted its stake in Nextdoor by 77.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock worth $25,000 after acquiring an additional 4,514 shares in the last quarter. SVB Wealth LLC acquired a new stake in Nextdoor during the 4th quarter worth about $27,000. Creative Planning purchased a new position in Nextdoor during the third quarter valued at approximately $28,000. Finally, US Bancorp DE purchased a new position in shares of Nextdoor during the 4th quarter valued at $29,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

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.