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

Nextdoor Holdings, Inc. (NYSE:KIND) reached a new 52-week low during trading on Thursday . The stock 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.

Analyst Upgrades and Downgrades

KIND has been the topic of several analyst reports. 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 price target on the stock. The Goldman Sachs Group dropped their target price on shares of Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday, March 3rd.

Nextdoor Stock Performance

The firm has a market cap of $554.34 million, a price-to-earnings ratio of -4.48 and a beta of 1.14. The firm has a fifty day simple moving average of $2.17 and a 200-day simple moving average of $2.36.

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

Insider Transactions at Nextdoor

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the transaction, the general counsel now directly owns 267,445 shares in the company, valued at approximately $460,005.40. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 46.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KIND. Charles Schwab Investment Management Inc. boosted its stake in shares of Nextdoor by 16.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company’s stock valued at $3,871,000 after buying an additional 227,208 shares during the period. Cornerstone Partners Capital Management LLC lifted its position in shares of Nextdoor by 83.9% during the 4th quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company’s stock valued at $1,390,000 after acquiring an additional 267,527 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Nextdoor by 62.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company’s stock worth $1,799,000 after purchasing an additional 278,185 shares in the last quarter. Barclays PLC increased its position in shares of Nextdoor by 326.2% in the third quarter. Barclays PLC now owns 267,490 shares of the company’s stock worth $663,000 after purchasing an additional 204,729 shares during the period. Finally, Geode Capital Management LLC raised its stake in Nextdoor by 5.3% in the third quarter. Geode Capital Management LLC now owns 4,042,728 shares of the company’s stock valued at $10,028,000 after purchasing an additional 205,015 shares in the last quarter. 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.