Nextdoor (NYSE:KIND) Reaches New 1-Year Low – What’s Next?

Nextdoor Holdings, Inc. (NYSE:KIND)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock 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 research analysts have commented on KIND shares. The Goldman Sachs Group reduced their price target on Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Craig Hallum began coverage on Nextdoor in a report on Thursday, January 30th. They issued a “buy” rating and a $4.00 target price on the stock.

Nextdoor Stock Performance

The stock has a fifty day simple moving average of $2.22 and a two-hundred day simple moving average of $2.38. The stock has a market capitalization of $600.70 million, a price-to-earnings ratio of -4.86 and a beta of 1.14.

Nextdoor (NYSE:KIND) last released its earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, hitting 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 business had revenue of $65.23 million during the quarter, compared to analysts’ expectations of $63.12 million. Research analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Insider Activity

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.72, for a total value of $25,800.00. Following the completion of the sale, the general counsel now directly owns 267,445 shares in the company, valued at $460,005.40. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 46.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Nextdoor during the fourth quarter valued at approximately $27,000. Mackenzie Financial Corp bought a new stake in Nextdoor during the 4th quarter valued at $382,000. Public Employees Retirement System of Ohio acquired a new position in Nextdoor during the fourth quarter worth $193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Nextdoor by 38.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,072 shares of the company’s stock valued at $1,105,000 after buying an additional 128,511 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in shares of Nextdoor during the fourth quarter valued at about $474,000. 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.