Nextdoor Holdings, Inc. (NYSE:KIND) Sees Significant Drop in Short Interest

Nextdoor Holdings, Inc. (NYSE:KIND) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 3,640,000 shares, a decrease of 16.7% from the January 15th total of 4,370,000 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 1,920,000 shares, the short-interest ratio is currently 1.9 days.

Insider Activity

In related news, General Counsel Sophia Schwartz sold 16,834 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.45, for a total value of $41,243.30. Following the completion of the sale, the general counsel now owns 215,536 shares of the company’s stock, valued at $528,063.20. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 46.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nextdoor

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

Analyst Ratings Changes

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

Nextdoor Stock Up 0.2 %

Shares of KIND traded up $0.01 during trading hours on Monday, reaching $2.75. The stock had a trading volume of 1,831,324 shares, compared to its average volume of 1,330,799. The company has a market cap of $1.05 billion, a P/E ratio of -8.58 and a beta of 1.07. Nextdoor has a 52 week low of $1.67 and a 52 week high of $2.99. The firm has a 50-day moving average of $2.51 and a 200 day moving average of $2.48.

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.