Nextdoor Holdings, Inc. (NYSE:KIND) Short Interest Update

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,760,000 shares, a decrease of 5.5% from the October 15th total of 3,980,000 shares. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.0% of the company's stock are sold short.

Nextdoor Stock Down 0.6 %

Shares of Nextdoor stock traded down $0.02 during trading on Monday, hitting $2.36. The stock had a trading volume of 1,309,048 shares, compared to its average volume of 1,600,500. The stock has a 50 day simple moving average of $2.46 and a 200 day simple moving average of $2.51. The company has a market capitalization of $894.69 million, a PE ratio of -7.36 and a beta of 1.08. Nextdoor has a 1 year low of $1.32 and a 1 year high of $2.99.

Nextdoor (NYSE:KIND - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $65.61 million during the quarter, compared to analysts' expectations of $62.10 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. During the same period last year, the company posted ($0.10) earnings per share. As a group, equities analysts expect that Nextdoor will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group upped their price target on Nextdoor from $2.50 to $3.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Morgan Stanley raised their target price on Nextdoor from $2.20 to $2.50 and gave the company an "equal weight" rating in a research note on Tuesday, July 23rd.

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 17,529 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $2.58, for a total value of $45,224.82. Following the transaction, the general counsel now directly owns 304,666 shares of the company's stock, valued at $786,038.28. This represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 46.04% of the stock is owned by company insiders.

Institutional Trading of Nextdoor

A number of institutional investors and hedge funds have recently modified their holdings of KIND. Geode Capital Management LLC increased its position in Nextdoor by 5.3% during the third quarter. Geode Capital Management LLC now owns 4,042,728 shares of the company's stock worth $10,028,000 after acquiring an additional 205,015 shares during the period. Barclays PLC lifted its position in Nextdoor by 326.2% during the 3rd quarter. Barclays PLC now owns 267,490 shares of the company's stock worth $663,000 after buying an additional 204,729 shares in the last quarter. XTX Topco Ltd lifted its position in Nextdoor by 1,558.9% during the 3rd quarter. XTX Topco Ltd now owns 166,320 shares of the company's stock worth $412,000 after buying an additional 156,294 shares in the last quarter. State Street Corp lifted its position in Nextdoor by 1.3% during the 3rd quarter. State Street Corp now owns 3,568,959 shares of the company's stock valued at $8,851,000 after purchasing an additional 46,595 shares during the period. Finally, Potrero Capital Research LLC lifted its position in Nextdoor by 29.4% during the 3rd quarter. Potrero Capital Research LLC now owns 2,897,238 shares of the company's stock valued at $7,185,000 after purchasing an additional 657,492 shares during the period. 35.66% of the stock is currently 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.