Nextdoor Holdings, Inc. (NYSE:KIND) Sees Large Increase in Short Interest

Nextdoor Holdings, Inc. (NYSE:KIND) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 4,160,000 shares, a growth of 26.8% from the December 15th total of 3,280,000 shares. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their price target on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Nextdoor Stock Performance

KIND stock traded up $0.03 during midday trading on Friday, reaching $2.42. The company’s stock had a trading volume of 953,951 shares, compared to its average volume of 1,673,073. The stock has a fifty day simple moving average of $2.46 and a two-hundred day simple moving average of $2.51. Nextdoor has a 1 year low of $1.52 and a 1 year high of $2.99. The firm has a market capitalization of $922.88 million, a price-to-earnings ratio of -7.55 and a beta of 1.05.

Nextdoor (NYSE:KIND) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The business had revenue of $65.61 million for the quarter, compared to analyst estimates of $62.10 million. During the same quarter last year, the firm posted ($0.10) earnings per share. As a group, analysts forecast that Nextdoor will post -0.22 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Sophia Schwartz sold 16,834 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.45, for a total transaction of $41,243.30. Following the sale, the general counsel now owns 215,536 shares in the company, valued at approximately $528,063.20. This represents a 7.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 20,222 shares of company stock worth $49,679. 46.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nextdoor

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in shares of Nextdoor during the 2nd quarter worth $28,000. Creative Planning bought a new position in shares of Nextdoor during the 3rd quarter worth $28,000. Xponance Inc. bought a new position in shares of Nextdoor during the 2nd quarter worth $31,000. Savvy Advisors Inc. bought a new position in shares of Nextdoor during the 3rd quarter worth $61,000. Finally, Asset Management One Co. Ltd. bought a new position in shares of Nextdoor during the 3rd quarter worth $79,000. Institutional investors own 35.66% of the company’s stock.

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.