Nextdoor (NYSE:KIND) Stock Price Down 2.4% - Here's Why

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) dropped 2.4% during trading on Tuesday . The stock traded as low as $1.40 and last traded at $1.40. Approximately 274,968 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 2,018,557 shares. The stock had previously closed at $1.43.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KIND shares. Craig Hallum began coverage on Nextdoor in a research note on Thursday, January 30th. They set a "buy" rating and a $4.00 price target on the stock. The Goldman Sachs Group cut their target price 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.

Nextdoor Price Performance

The business has a 50 day moving average of $1.72 and a 200 day moving average of $2.23. The firm has a market capitalization of $577.52 million, a price-to-earnings ratio of -4.67 and a beta of 1.16.

Nextdoor (NYSE:KIND - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm 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%. As a group, equities analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the stock in a transaction 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 sale, the general counsel now owns 267,445 shares of the company's stock, valued at $460,005.40. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 46.04% of the company's stock.

Institutional Investors Weigh In On Nextdoor

Several institutional investors have recently added to or reduced their stakes in KIND. AXQ Capital LP acquired a new stake in shares of Nextdoor in the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC lifted its stake in Nextdoor by 77.1% in the 4th 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 in the last quarter. SVB Wealth LLC acquired a new position in Nextdoor during the 4th quarter worth approximately $27,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Nextdoor during the 4th quarter worth approximately $27,000. Finally, US Bancorp DE acquired a new stake in shares of Nextdoor in the fourth quarter valued at approximately $29,000. 35.66% of the stock is owned by institutional investors.

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.