Nextdoor (NYSE:KIND) Stock Price Down 2.4% - Time to Sell?

Shares of Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) were down 2.4% on Tuesday . The company traded as low as $1.40 and last traded at $1.40. Approximately 274,968 shares were traded during trading, a decline of 86% from the average daily volume of 2,018,557 shares. The stock had previously closed at $1.43.

Wall Street Analyst Weigh In

KIND has been the subject of several research analyst reports. The Goldman Sachs Group lowered their target price on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Monday, April 14th. Craig Hallum initiated coverage on shares of Nextdoor in a research note on Thursday, January 30th. They issued a "buy" rating and a $4.00 price objective for the company.

Nextdoor Price Performance

The business's 50-day moving average price is $1.75 and its 200-day moving average price is $2.24. The firm has a market capitalization of $581.38 million, a PE ratio of -4.70 and a beta of 1.16.

Nextdoor (NYSE:KIND - Get Free Report) last issued 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 the consensus estimate of $63.12 million. Equities analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Insider Activity at Nextdoor

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 value of $25,800.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 46.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nextdoor

A number of hedge funds have recently added to or reduced their stakes in KIND. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nextdoor by 123.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,803 shares of the company's stock valued at $39,000 after buying an additional 14,251 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Nextdoor during the 4th quarter worth $382,000. Public Employees Retirement System of Ohio purchased a new position in shares of Nextdoor in the 4th quarter valued at about $193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Nextdoor by 38.1% during 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 worth $1,105,000 after buying an additional 128,511 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in Nextdoor during the fourth quarter worth about $474,000. Institutional investors and hedge funds 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.