Nextdoor (NYSE:KIND) Sees Strong Trading Volume

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) shares saw an uptick in trading volume on Wednesday . 2,419,493 shares were traded during mid-day trading, an increase of 54% from the previous session's volume of 1,573,485 shares.The stock last traded at $2.43 and had previously closed at $2.27.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their price objective on Nextdoor from $1.75 to $2.25 and gave the stock a "neutral" rating in a research note on Wednesday, February 28th.

Nextdoor Stock Performance

The business's 50 day moving average is $2.14 and its 200 day moving average is $1.87. The stock has a market cap of $964.39 million, a price-to-earnings ratio of -6.45 and a beta of 0.99.

Nextdoor (NYSE:KIND - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. The firm had revenue of $55.56 million for the quarter, compared to analyst estimates of $50.94 million. Nextdoor had a negative return on equity of 24.22% and a negative net margin of 67.69%. Research analysts expect that Nextdoor Holdings, Inc. will post -0.27 earnings per share for the current year.

Institutional Investors Weigh In On Nextdoor

Large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in shares of Nextdoor by 23.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 32,324 shares of the company's stock valued at $61,000 after acquiring an additional 6,034 shares during the last quarter. Arizona State Retirement System raised its position in shares of Nextdoor by 24.9% in the fourth quarter. Arizona State Retirement System now owns 39,612 shares of the company's stock valued at $75,000 after purchasing an additional 7,896 shares during the period. Westside Investment Management Inc. boosted its holdings in shares of Nextdoor by 294.3% during the 1st quarter. Westside Investment Management Inc. now owns 15,408 shares of the company's stock worth $35,000 after buying an additional 11,500 shares during the period. Jump Financial LLC bought a new position in Nextdoor in the 3rd quarter worth $25,000. Finally, IAM Advisory LLC acquired a new position in Nextdoor during the 4th quarter worth $32,000. Institutional investors own 35.66% of the company's stock.

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.