Nextdoor (NYSE:KIND) Trading 5.6% Higher - Should You Buy?

Shares of Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) shot up 5.6% on Thursday . The company traded as high as $1.62 and last traded at $1.62. 573,422 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,813,137 shares. The stock had previously closed at $1.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KIND. The Goldman Sachs Group cut their price objective on Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley lowered Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective on the stock. in a research report on Tuesday, May 13th.

Nextdoor Stock Down 4.7%

The company has a market capitalization of $583.45 million, a P/E ratio of -4.77 and a beta of 1.16. The company has a 50-day moving average of $1.48 and a two-hundred day moving average of $2.05.

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

Insider Transactions at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.72, for a total value of $25,800.00. Following the completion of the transaction, the general counsel now owns 267,445 shares in the company, valued at $460,005.40. The trade was a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 46.04% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Titleist Asset Management LLC raised its stake in shares of Nextdoor by 1.1% in the fourth quarter. Titleist Asset Management LLC now owns 381,750 shares of the company's stock worth $905,000 after purchasing an additional 4,000 shares during the last quarter. Occudo Quantitative Strategies LP increased its position in Nextdoor by 3.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 138,203 shares of the company's stock valued at $328,000 after acquiring an additional 4,091 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Nextdoor by 77.1% during 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. Invesco Ltd. increased its position in Nextdoor by 2.2% during the fourth quarter. Invesco Ltd. now owns 243,395 shares of the company's stock valued at $577,000 after acquiring an additional 5,178 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Nextdoor by 13.9% during the first quarter. Arizona State Retirement System now owns 55,626 shares of the company's stock valued at $85,000 after acquiring an additional 6,793 shares during the last quarter. Hedge funds and other institutional investors own 35.66% of the company's stock.

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.