Nextdoor (NYSE:KIND) Shares Gap Down – Here’s Why

Nextdoor Holdings, Inc. (NYSE:KIND)’s share price gapped down prior to trading on Friday . The stock had previously closed at $2.49, but opened at $2.21. Nextdoor shares last traded at $1.92, with a volume of 967,622 shares.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KIND shares. Craig Hallum started coverage on Nextdoor in a research report on Thursday, January 30th. They set a “buy” rating and a $4.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Nextdoor Stock Performance

The company has a market cap of $670.66 million, a price-to-earnings ratio of -5.48 and a beta of 1.07. The company’s 50 day moving average price is $2.52 and its 200 day moving average price is $2.49.

Nextdoor (NYSE:KIND) last posted its earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $65.23 million for the quarter, compared to analyst estimates of $63.12 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. On average, equities research analysts forecast that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 16,834 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.45, for a total transaction of $41,243.30. Following the completion of the sale, the general counsel now directly owns 215,536 shares in the company, valued at $528,063.20. This represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 46.04% of the company’s stock.

Hedge Funds Weigh In On Nextdoor

A number of institutional investors have recently made changes to their positions in the business. AXQ Capital LP bought a new position in Nextdoor in the 4th quarter worth approximately $25,000. Tower Research Capital LLC TRC increased its position in Nextdoor by 77.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock worth $25,000 after acquiring an additional 4,514 shares during the period. SVB Wealth LLC acquired a new position in Nextdoor during the 4th quarter valued at $27,000. Creative Planning bought a new stake in Nextdoor in the 3rd quarter valued at $28,000. Finally, US Bancorp DE acquired a new stake in Nextdoor in the 4th quarter worth $29,000. 35.66% of the stock is currently owned by institutional investors.

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.