Nextdoor (NYSE:KIND) Stock Price Down 9.5% - Time to Sell?

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) dropped 9.5% during trading on Friday . The stock traded as low as $2.48 and last traded at $2.57. Approximately 971,411 shares were traded during trading, a decline of 37% from the average daily volume of 1,547,266 shares. The stock had previously closed at $2.84.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KIND. Morgan Stanley increased their price target on Nextdoor from $2.20 to $2.50 and gave the company an "equal weight" rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group increased their price objective on shares of Nextdoor from $2.50 to $3.00 and gave the company a "neutral" rating in a research report on Thursday.

Nextdoor Stock Down 8.5 %

The business has a fifty day moving average price of $2.44 and a 200-day moving average price of $2.49. The company has a market cap of $987.77 million, a P/E ratio of -8.13 and a beta of 1.08.

Nextdoor (NYSE:KIND - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $63.29 million during the quarter, compared to the consensus estimate of $58.80 million. Nextdoor had a negative return on equity of 18.79% and a negative net margin of 53.23%. As a group, research analysts expect that Nextdoor Holdings, Inc. will post -0.23 earnings per share for the current year.

Insider Activity at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 17,529 shares of Nextdoor stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total value of $45,224.82. Following the completion of the sale, the general counsel now owns 304,666 shares in the company, valued at $786,038.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 46.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Nextdoor

Several large investors have recently modified their holdings of KIND. Swiss National Bank lifted its stake in Nextdoor by 9.5% during the first quarter. Swiss National Bank now owns 305,600 shares of the company's stock worth $688,000 after purchasing an additional 26,400 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Nextdoor by 18.5% during the 1st quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company's stock valued at $36,442,000 after purchasing an additional 2,529,694 shares during the last quarter. Quadrature Capital Ltd lifted its stake in Nextdoor by 91.9% in the 1st quarter. Quadrature Capital Ltd now owns 107,354 shares of the company's stock valued at $241,000 after purchasing an additional 51,425 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Nextdoor by 28.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,779 shares of the company's stock valued at $99,000 after buying an additional 9,689 shares in the last quarter. Finally, FourWorld Capital Management LLC bought a new stake in shares of Nextdoor during the first quarter worth $496,000. 35.66% of the stock is owned by institutional investors and hedge funds.

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.