Nextdoor (NYSE:KIND) Sets New 1-Year Low - Time to Sell?

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KIND shares. The Goldman Sachs Group reduced their target price on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Craig Hallum started coverage on shares of Nextdoor in a research note on Thursday, January 30th. They set a "buy" rating and a $4.00 price objective on the stock. Finally, Morgan Stanley lowered shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective on the stock. in a research note on Tuesday.

Nextdoor Trading Up 5.0%

The firm's 50 day moving average is $1.53 and its two-hundred day moving average is $2.15. The firm has a market cap of $564.00 million, a P/E ratio of -4.56 and a beta of 1.16.

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

Insiders Place Their Bets

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the sale, the general counsel now owns 267,445 shares of the company's stock, valued at $460,005.40. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 46.04% of the company's stock.

Institutional Investors Weigh In On Nextdoor

Several institutional investors and hedge funds have recently added to or reduced their stakes in KIND. Renaissance Technologies LLC increased its holdings in shares of Nextdoor by 98.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company's stock valued at $9,402,000 after purchasing an additional 1,965,300 shares during the last quarter. Millennium Management LLC boosted its position in shares of Nextdoor by 177.6% in the fourth quarter. Millennium Management LLC now owns 2,999,267 shares of the company's stock valued at $7,108,000 after acquiring an additional 1,918,884 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Nextdoor by 115.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,696,339 shares of the company's stock worth $6,390,000 after purchasing an additional 1,444,343 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Nextdoor by 193.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,082,482 shares of the company's stock worth $4,935,000 after purchasing an additional 1,371,705 shares during the period. Finally, Vanguard Group Inc. lifted its position in Nextdoor by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company's stock worth $41,735,000 after purchasing an additional 1,041,258 shares during the period. 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.