Nextdoor Holdings, Inc. (NYSE:KIND) Short Interest Update

Nextdoor Holdings, Inc. (NYSE:KIND) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 3,760,000 shares, a drop of 5.5% from the October 15th total of 3,980,000 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 2.8 days.

Nextdoor Trading Down 0.6 %

NYSE KIND opened at $2.36 on Tuesday. The company has a 50 day moving average of $2.46 and a 200-day moving average of $2.51. Nextdoor has a 1-year low of $1.32 and a 1-year high of $2.99.

Nextdoor (NYSE:KIND) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $65.61 million during the quarter, compared to analysts’ expectations of $62.10 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. During the same period in the previous year, the firm earned ($0.10) EPS. Sell-side analysts expect that Nextdoor will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 17,529 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total transaction of $45,224.82. Following the completion of the sale, the general counsel now directly owns 304,666 shares in the company, valued at $786,038.28. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 46.04% of the company’s stock.

Institutional Trading of Nextdoor

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in Nextdoor in the second quarter valued at approximately $28,000. Creative Planning acquired a new position in shares of Nextdoor during the 3rd quarter worth $28,000. Ground Swell Capital LLC bought a new stake in shares of Nextdoor during the 2nd quarter worth $30,000. Xponance Inc. acquired a new stake in Nextdoor in the second quarter valued at about $31,000. Finally, nVerses Capital LLC bought a new position in Nextdoor in the second quarter valued at about $49,000. Institutional investors own 35.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley boosted their target price on shares of Nextdoor from $2.20 to $2.50 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd.

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.