Nextdoor (NYSE:KIND) Sees Unusually-High Trading Volume

Shares of Nextdoor Holdings, Inc. (NYSE:KIND) saw an uptick in trading volume on Wednesday . Approximately 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.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price target on Nextdoor from $2.25 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday.

Nextdoor Stock Performance

The business’s 50 day moving average is $2.15 and its two-hundred day moving average is $1.87. The firm has a market capitalization of $928.97 million, a PE ratio of -6.21 and a beta of 0.99.

Nextdoor (NYSE:KIND) last announced 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. Nextdoor had a negative return on equity of 24.22% and a negative net margin of 67.69%. The company had revenue of $55.56 million during the quarter, compared to analysts’ expectations of $50.94 million. As a group, equities research analysts predict that Nextdoor Holdings, Inc. will post -0.27 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Nextdoor by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,756,262 shares of the company’s stock worth $23,216,000 after acquiring an additional 1,292,918 shares during the last quarter. Algert Global LLC purchased a new position in Nextdoor during the 3rd quarter valued at about $707,000. ARK Investment Management LLC raised its position in Nextdoor by 56.7% during the 4th quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock valued at $20,388,000 after purchasing an additional 3,901,481 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Nextdoor by 1,753.5% in the 4th quarter. SG Americas Securities LLC now owns 787,271 shares of the company’s stock worth $1,488,000 after buying an additional 744,796 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Nextdoor by 38.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,138 shares of the company’s stock worth $178,000 after buying an additional 26,029 shares during the last quarter. Hedge funds and other 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.