Nextdoor (NYSE:KIND) Trading Down 2.9%

Nextdoor Holdings, Inc. (NYSE:KIND) fell 2.9% during trading on Monday . The company traded as low as $2.69 and last traded at $2.70. 197,457 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,757,102 shares. The stock had previously closed at $2.78.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their price target on Nextdoor from $2.25 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, May 9th.

Nextdoor Price Performance

The business has a 50-day simple moving average of $2.41 and a 200 day simple moving average of $2.09.

Nextdoor (NYSE:KIND) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. Nextdoor had a negative return on equity of 23.84% and a negative net margin of 64.19%. The company had revenue of $53.15 million for the quarter, compared to analyst estimates of $50.90 million. On average, equities research analysts expect that Nextdoor Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nextdoor

Several institutional investors and hedge funds have recently made changes to their positions in KIND. ARK Investment Management LLC raised its stake in Nextdoor by 56.7% during the 4th quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock worth $20,388,000 after buying an additional 3,901,481 shares during the period. Vanguard Group Inc. raised its stake in Nextdoor by 18.5% during the 1st quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock worth $36,442,000 after buying an additional 2,529,694 shares during the period. Nikko Asset Management Americas Inc. raised its stake in Nextdoor by 21.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,698,259 shares of the company’s stock worth $26,321,000 after buying an additional 2,058,131 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Nextdoor by 21.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,698,259 shares of the company’s stock worth $26,321,000 after buying an additional 2,058,131 shares during the period. Finally, SG Americas Securities LLC raised its stake in Nextdoor by 1,753.5% during the 4th quarter. SG Americas Securities LLC now owns 787,271 shares of the company’s stock worth $1,488,000 after buying an additional 744,796 shares during the period. 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.