Nextdoor (NYSE:KIND) Sees Large Volume Increase – Here’s What Happened

Shares of Nextdoor Holdings, Inc. (NYSE:KIND) saw an uptick in trading volume on Monday . 1,641,610 shares changed hands during trading, a decline of 7% from the previous session’s volume of 1,755,961 shares.The stock last traded at $1.70 and had previously closed at $1.77.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KIND shares. The Goldman Sachs Group cut their price target on shares of Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday. Craig Hallum initiated coverage on shares of Nextdoor in a research note on Thursday, January 30th. They issued a “buy” rating and a $4.00 target price on the stock.

Nextdoor Stock Down 5.9 %

The stock has a market cap of $636.27 million, a P/E ratio of -5.20 and a beta of 1.07. The business’s 50-day simple moving average is $2.51 and its two-hundred day simple moving average is $2.48.

Nextdoor (NYSE:KIND) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The company had revenue of $65.23 million for the quarter, compared to analyst estimates of $63.12 million. Analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Creative Planning purchased a new position in Nextdoor in the 3rd quarter worth approximately $28,000. Asset Management One Co. Ltd. bought a new position in Nextdoor in the third quarter valued at $79,000. Savvy Advisors Inc. bought a new position in Nextdoor in the third quarter valued at $61,000. Travelers Companies Inc. purchased a new stake in Nextdoor during the third quarter valued at about $593,000. Finally, Intech Investment Management LLC purchased a new stake in Nextdoor in the third quarter worth approximately $84,000. 35.66% of the stock is currently 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.