Nextdoor (NYSE:KIND) Hits New 1-Year Low – Time to Sell?

Nextdoor Holdings, Inc. (NYSE:KIND) shares hit a new 52-week low on Thursday . The stock traded as low as $1.42 and last traded at $1.46, with a volume of 832297 shares traded. The stock had previously closed at $1.54.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Craig Hallum initiated coverage on Nextdoor in a report on Thursday, January 30th. They issued a “buy” rating and a $4.00 price target on the stock.

Nextdoor Stock Performance

The firm’s 50 day moving average is $2.13 and its 200 day moving average is $2.35. The stock has a market cap of $538.89 million, a P/E ratio of -4.36 and a beta of 1.16.

Nextdoor (NYSE:KIND) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, hitting 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 firm had revenue of $65.23 million during the quarter, compared to analysts’ expectations of $63.12 million. As a group, analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.72, for a total transaction of $25,800.00. Following the completion of the transaction, the general counsel now owns 267,445 shares in the company, valued at approximately $460,005.40. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 46.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nextdoor

A number of hedge funds and other institutional investors have recently made changes to their positions in KIND. Vanguard Group Inc. boosted its holdings in Nextdoor by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock worth $41,735,000 after buying an additional 1,041,258 shares in the last quarter. Cannell Capital LLC boosted its stake in shares of Nextdoor by 8.4% during the 4th quarter. Cannell Capital LLC now owns 6,733,574 shares of the company’s stock worth $15,959,000 after acquiring an additional 524,342 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nextdoor by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 4,258,509 shares of the company’s stock valued at $10,095,000 after acquiring an additional 215,781 shares during the period. Renaissance Technologies LLC increased its stake in shares of Nextdoor by 98.2% in the 4th quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company’s stock valued at $9,402,000 after purchasing an additional 1,965,300 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Nextdoor by 1.3% in the 3rd quarter. State Street Corp now owns 3,568,959 shares of the company’s stock valued at $8,851,000 after purchasing an additional 46,595 shares in the last quarter. 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.