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

Nextdoor Holdings, Inc. (NYSE:KIND) gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on KIND. The Goldman Sachs Group increased their price objective on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum began coverage on Nextdoor in a research report on Thursday, January 30th. They issued a “buy” rating and a $4.00 price objective on the stock.

Nextdoor Stock Performance

The stock has a market capitalization of $670.66 million, a P/E ratio of -5.48 and a beta of 1.07. The stock has a 50-day simple moving average of $2.51 and a 200 day simple moving average of $2.48.

Nextdoor (NYSE:KIND) last posted 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 company had revenue of $65.23 million for the quarter, compared to the consensus estimate of $63.12 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. Equities analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Insider Activity

In other 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 value of $41,243.30. Following the transaction, the general counsel now owns 215,536 shares of the company’s stock, valued at $528,063.20. This represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 46.04% of the stock is currently owned by company insiders.

Institutional Trading of Nextdoor

Several hedge funds have recently added to or reduced their stakes in the business. Titleist Asset Management LLC raised its stake in Nextdoor by 1.1% during the 4th quarter. Titleist Asset Management LLC now owns 381,750 shares of the company’s stock worth $905,000 after buying an additional 4,000 shares during the period. Occudo Quantitative Strategies LP raised its stake 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 during the period. Tower Research Capital LLC TRC raised its stake in 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 period. Invesco Ltd. raised its stake in Nextdoor by 2.2% during the 4th quarter. Invesco Ltd. now owns 243,395 shares of the company’s stock worth $577,000 after buying an additional 5,178 shares during the period. Finally, AXQ Capital LP acquired a new stake in Nextdoor during the 4th quarter worth $25,000. Institutional investors and hedge funds 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.