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

Shares of Nextdoor Holdings, Inc. (NYSE:KIND) saw unusually-strong trading volume on Wednesday . Approximately 2,419,493 shares changed hands during 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.

Analysts Set New Price Targets

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

Nextdoor Price Performance

The stock’s fifty day simple moving average is $2.15 and its 200-day simple moving average is $1.87. The company has a market capitalization of $928.97 million, a P/E ratio of -6.21 and a beta of 0.99.

Nextdoor (NYSE:KIND) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. Nextdoor had a negative net margin of 67.69% and a negative return on equity of 24.22%. The company had revenue of $55.56 million for the quarter, compared to analyst estimates of $50.94 million. On average, research analysts predict that Nextdoor Holdings, Inc. will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Nextdoor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KIND. Jump Financial LLC acquired a new stake in shares of Nextdoor in the third quarter valued at $25,000. Westside Investment Management Inc. grew its holdings in Nextdoor by 294.3% during the 1st quarter. Westside Investment Management Inc. now owns 15,408 shares of the company’s stock worth $35,000 after acquiring an additional 11,500 shares during the last quarter. IAM Advisory LLC acquired a new stake in Nextdoor in the 4th quarter valued at about $32,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Nextdoor in the third quarter worth about $36,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Nextdoor by 266.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 24,688 shares of the company’s stock worth $47,000 after purchasing an additional 17,950 shares in the last quarter. 35.66% of the stock is currently owned by institutional investors and hedge funds.

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.