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

Nextdoor Holdings, Inc. (NYSE:KIND)’s stock 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Craig Hallum initiated coverage on Nextdoor in a research note on Thursday, January 30th. They issued a “buy” rating and a $4.00 price objective on the stock. The Goldman Sachs Group upped their price target on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

Nextdoor Price Performance

The company’s 50 day simple moving average is $2.52 and its two-hundred day simple moving average is $2.49. The stock has a market capitalization of $670.66 million, a P/E ratio of -5.48 and a beta of 1.07.

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

Insider Activity at Nextdoor

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 company insiders.

Institutional Inflows and Outflows

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

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.