Nextdoor (NYSE:KIND) Sees Unusually-High Trading Volume - Time to Buy?

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) shares saw an uptick in trading volume on Monday . 1,641,610 shares traded hands during mid-day trading, a decline of 7% from the previous session's volume of 1,755,961 shares.The stock last traded at $1.70 and had previously closed at $1.77.

Analysts Set New Price Targets

KIND has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Nextdoor from $3.00 to $2.50 and set a "neutral" rating for the company in a research report on Monday. Craig Hallum assumed coverage on shares of Nextdoor in a research note on Thursday, January 30th. They set a "buy" rating and a $4.00 target price for the company.

Nextdoor Trading Down 5.9 %

The company has a market cap of $636.27 million, a price-to-earnings ratio of -5.20 and a beta of 1.07. The stock's 50-day moving average is $2.51 and its 200-day moving average is $2.48.

Nextdoor (NYSE:KIND - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.03) EPS 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 company had revenue of $65.23 million during the quarter, compared to the consensus estimate of $63.12 million. As a group, analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Institutional Trading of Nextdoor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in shares of Nextdoor by 98.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company's stock valued at $9,402,000 after buying an additional 1,965,300 shares during the last quarter. Millennium Management LLC raised its stake in shares of Nextdoor by 177.6% in the fourth 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 during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Nextdoor by 115.4% in the fourth 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 in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Nextdoor by 193.0% during 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 during the last quarter. Finally, Vanguard Group Inc. grew its holdings in 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 in the last quarter. Institutional investors own 35.66% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.