Nextdoor (NYSE:KIND) Hits New 52-Week Low - Time to Sell?

Shares of Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $1.35 and last traded at $1.41, with a volume of 3179791 shares changing hands. The stock had previously closed at $1.51.

Wall Street Analyst Weigh In

KIND has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Craig Hallum began coverage on Nextdoor in a report on Thursday, January 30th. They issued a "buy" rating and a $4.00 price objective on the stock.

Nextdoor Stock Up 2.6%

The firm has a market capitalization of $538.89 million, a P/E ratio of -4.36 and a beta of 1.16. The firm has a 50 day moving average of $1.54 and a 200-day moving average of $2.15.

Nextdoor (NYSE:KIND - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $54.18 million for the quarter, compared to analyst estimates of $53.14 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. As a group, research analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $1.72, for a total transaction of $25,800.00. Following the completion of the transaction, the general counsel now owns 267,445 shares in the company, valued at approximately $460,005.40. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 46.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KIND. Barclays PLC grew its position in Nextdoor by 326.2% in the 3rd quarter. Barclays PLC now owns 267,490 shares of the company's stock valued at $663,000 after purchasing an additional 204,729 shares during the period. JPMorgan Chase & Co. grew its position in Nextdoor by 62.2% in 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. SG Americas Securities LLC increased its stake in Nextdoor by 51.9% in the 4th quarter. SG Americas Securities LLC now owns 95,537 shares of the company's stock valued at $226,000 after buying an additional 32,658 shares during the last quarter. R Squared Ltd purchased a new position in shares of Nextdoor in the 4th quarter worth approximately $45,000. Finally, Cornerstone Partners Capital Management LLC grew its holdings in shares of Nextdoor by 83.9% in the fourth 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 in the last quarter. 35.66% of the stock is 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.