Nextdoor (NYSE:KIND) Stock Price Down 2.9%

Nextdoor Holdings, Inc. (NYSE:KIND) shares dropped 2.9% during trading on Monday . The stock traded as low as $2.69 and last traded at $2.70. Approximately 197,457 shares were traded during trading, a decline of 89% from the average daily volume of 1,757,102 shares. The stock had previously closed at $2.78.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price target on Nextdoor from $2.25 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, May 9th.

Nextdoor Stock Performance

The firm has a 50-day simple moving average of $2.39 and a 200 day simple moving average of $2.08.

Nextdoor (NYSE:KIND) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. Nextdoor had a negative return on equity of 23.84% and a negative net margin of 64.19%. The company had revenue of $53.15 million for the quarter, compared to the consensus estimate of $50.90 million. Equities analysts expect that Nextdoor Holdings, Inc. will post -0.24 EPS for the current year.

Institutional Trading of Nextdoor

A number of institutional investors have recently modified their holdings of KIND. Vanguard Group Inc. boosted its position in Nextdoor by 11.3% during the third quarter. Vanguard Group Inc. now owns 12,756,262 shares of the company’s stock worth $23,216,000 after purchasing an additional 1,292,918 shares in the last quarter. Swiss National Bank raised its holdings in shares of Nextdoor by 16.4% in the fourth quarter. Swiss National Bank now owns 279,200 shares of the company’s stock worth $528,000 after acquiring an additional 39,300 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Nextdoor by 56.7% in the fourth quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock worth $20,388,000 after acquiring an additional 3,901,481 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Nextdoor by 1,753.5% in the fourth quarter. SG Americas Securities LLC now owns 787,271 shares of the company’s stock worth $1,488,000 after acquiring an additional 744,796 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Nextdoor by 38.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,138 shares of the company’s stock worth $178,000 after acquiring an additional 26,029 shares during the last quarter. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

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.