Nextdoor (NYSE:KIND) Reaches New 52-Week Low – Here’s Why

Shares of Nextdoor Holdings, Inc. (NYSE:KIND) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.42 and last traded at $1.46, with a volume of 832297 shares changing hands. The stock had previously closed at $1.54.

Analysts Set New Price Targets

Several analysts have commented on KIND shares. Craig Hallum began coverage on shares of Nextdoor in a research report on Thursday, January 30th. They set a “buy” rating and a $4.00 target price for the company. The Goldman Sachs Group dropped their price objective on Nextdoor from $3.00 to $2.50 and set a “neutral” rating for the company in a report on Monday, March 3rd.

Nextdoor Price Performance

The company has a market capitalization of $554.34 million, a P/E ratio of -4.48 and a beta of 1.14. The business’s 50-day moving average price is $2.17 and its two-hundred day moving average price is $2.36.

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

Insider Transactions at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.72, for a total transaction of $25,800.00. Following the completion of the transaction, the general counsel now directly owns 267,445 shares of the company’s stock, valued at $460,005.40. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 46.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Nextdoor

A number of large investors have recently bought and sold shares of the company. Titleist Asset Management LLC lifted its position in shares of Nextdoor by 1.1% in the fourth quarter. Titleist Asset Management LLC now owns 381,750 shares of the company’s stock worth $905,000 after purchasing an additional 4,000 shares in the last quarter. Occudo Quantitative Strategies LP lifted its position in Nextdoor by 3.1% during the 4th quarter. Occudo Quantitative Strategies LP now owns 138,203 shares of the company’s stock worth $328,000 after buying an additional 4,091 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Nextdoor by 77.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock worth $25,000 after buying an additional 4,514 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Nextdoor by 2.2% in the 4th quarter. Invesco Ltd. now owns 243,395 shares of the company’s stock valued at $577,000 after acquiring an additional 5,178 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Nextdoor in the fourth quarter valued at about $25,000. 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.