Nextdoor (NYSE:KIND) Shares Up 5.6% - Still a Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on KIND shares. Morgan Stanley downgraded shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 target price for the company. in a research note on Tuesday, May 13th. The Goldman Sachs Group decreased their price objective on Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Monday, April 14th.

Nextdoor Price Performance

The stock has a market cap of $591.10 million, a price-to-earnings ratio of -4.83 and a beta of 1.16. The company's fifty day moving average price is $1.48 and its 200-day moving average price is $2.05.

Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. On average, sell-side analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the firm's stock in a transaction dated 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 directly owns 267,445 shares in the company, valued at $460,005.40. This trade represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 46.04% of the company's stock.

Hedge Funds Weigh In On Nextdoor

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Titleist Asset Management LLC boosted its holdings in shares of Nextdoor by 1.1% in the 4th quarter. Titleist Asset Management LLC now owns 381,750 shares of the company's stock valued at $905,000 after acquiring an additional 4,000 shares during the last quarter. Occudo Quantitative Strategies LP lifted 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 purchasing an additional 4,091 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Nextdoor by 77.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock valued at $25,000 after purchasing an additional 4,514 shares during the last quarter. Invesco Ltd. grew its position 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 purchasing an additional 5,178 shares during the period. Finally, Arizona State Retirement System grew its position in Nextdoor by 13.9% during the 1st quarter. Arizona State Retirement System now owns 55,626 shares of the company's stock worth $85,000 after purchasing an additional 6,793 shares during the period. Institutional investors and hedge funds 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.