Nextdoor (NYSE:KIND) Sets New 52-Week Low – Here’s Why

Nextdoor Holdings, Inc. (NYSE:KIND)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $1.59 and last traded at $1.60, with a volume of 255104 shares changing hands. The stock had previously closed at $1.63.

Analysts Set New Price Targets

KIND has been the subject of several analyst reports. Craig Hallum began coverage on shares of Nextdoor in a research report on Thursday, January 30th. They set a “buy” rating and a $4.00 price target for the company. The Goldman Sachs Group reduced their price objective on Nextdoor from $3.00 to $2.50 and set a “neutral” rating for the company in a report on Monday, March 3rd.

Nextdoor Trading Down 4.0 %

The stock has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $2.38. The firm has a market cap of $604.56 million, a PE ratio of -4.89 and a beta of 1.14.

Nextdoor (NYSE:KIND) last issued its earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 the consensus estimate of $63.12 million. On average, equities research analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.72, for a total transaction of $25,800.00. Following the transaction, the general counsel now owns 267,445 shares of the company’s stock, valued at approximately $460,005.40. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 46.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in Nextdoor during the 4th quarter valued at about $27,000. Mackenzie Financial Corp bought a new position in Nextdoor in the 4th quarter valued at $382,000. Public Employees Retirement System of Ohio purchased a new stake in Nextdoor in the fourth quarter worth $193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Nextdoor by 38.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,072 shares of the company’s stock worth $1,105,000 after purchasing an additional 128,511 shares during the last quarter. Finally, Wexford Capital LP purchased a new stake in shares of Nextdoor during the fourth quarter valued at $474,000. 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.