Nextdoor (NYSE:KIND) Hits New 12-Month Low - Should You Sell?

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $1.42 and last traded at $1.46, with a volume of 832297 shares. The stock had previously closed at $1.54.

Wall Street Analyst Weigh In

KIND has been the topic of a number of analyst reports. Craig Hallum initiated coverage on shares of Nextdoor in a report on Thursday, January 30th. They set a "buy" rating and a $4.00 target price on the stock. The Goldman Sachs Group decreased their price objective on Nextdoor from $3.00 to $2.50 and set a "neutral" rating on the stock in a research note on Monday, March 3rd.

Nextdoor Price Performance

The firm's 50 day moving average is $2.06 and its 200 day moving average is $2.33. The company has a market cap of $542.75 million, a PE ratio of -4.39 and a beta of 1.16.

Nextdoor (NYSE:KIND - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $65.23 million for the quarter, compared to analysts' expectations of $63.12 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. As a group, analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS 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 on Friday, March 7th. The shares were sold at an average price of $1.72, for a total transaction of $25,800.00. Following the sale, the general counsel now owns 267,445 shares in the company, valued at approximately $460,005.40. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 46.04% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KIND. AXQ Capital LP bought a new stake in Nextdoor during the fourth quarter worth about $25,000. Tower Research Capital LLC TRC lifted its position 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 buying an additional 4,514 shares during the last quarter. SVB Wealth LLC bought a new stake in Nextdoor in the 4th quarter worth approximately $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Nextdoor in the fourth quarter worth approximately $27,000. Finally, US Bancorp DE bought a new position in Nextdoor during the fourth quarter valued at approximately $29,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

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.