Nextdoor (NYSE:KIND) Reaches New 52-Week Low - Should You Sell?

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report)'s stock price reached a new 52-week low 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.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Nextdoor from $3.00 to $2.50 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Craig Hallum assumed coverage on Nextdoor in a research note on Thursday, January 30th. They issued a "buy" rating and a $4.00 target price for the company.

Nextdoor Stock Down 1.0 %

The stock has a market cap of $585.25 million, a PE ratio of -4.73 and a beta of 1.14. The stock has a 50-day moving average of $2.21 and a 200 day moving average of $2.37.

Nextdoor (NYSE:KIND - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.03). The firm had revenue of $65.23 million for the quarter, compared to analyst estimates of $63.12 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. On average, equities analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

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Insider Activity

In other news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction that occurred 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 completion of the transaction, the general counsel now directly owns 267,445 shares of the company's stock, valued at $460,005.40. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 46.04% of the company's stock.

Institutional Trading of Nextdoor

A number of hedge funds have recently added to or reduced their stakes in KIND. Charles Schwab Investment Management Inc. raised its position in shares of Nextdoor by 16.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company's stock worth $3,871,000 after acquiring an additional 227,208 shares during the period. Cornerstone Partners Capital Management LLC raised its holdings in Nextdoor by 83.9% in the 4th quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company's stock worth $1,390,000 after purchasing an additional 267,527 shares during the period. JPMorgan Chase & Co. raised its holdings in Nextdoor by 62.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company's stock worth $1,799,000 after purchasing an additional 278,185 shares during the period. Barclays PLC boosted its position in Nextdoor by 326.2% during the third quarter. Barclays PLC now owns 267,490 shares of the company's stock worth $663,000 after purchasing an additional 204,729 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Nextdoor by 261.8% in the third quarter. Dynamic Technology Lab Private Ltd now owns 69,474 shares of the company's stock valued at $172,000 after purchasing an additional 50,273 shares during the period. 35.66% of the stock is 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.