Nextdoor (NYSE:KIND) Trading Up 13.1% After Analyst Upgrade

Nextdoor Holdings, Inc. (NYSE:KIND) rose 13.1% on Thursday after The Goldman Sachs Group raised their price target on the stock from $2.50 to $3.00. The Goldman Sachs Group currently has a neutral rating on the stock. Nextdoor traded as high as $2.93 and last traded at $2.93. Approximately 1,847,883 shares were traded during trading, an increase of 20% from the average daily volume of 1,540,043 shares. The stock had previously closed at $2.59.

Separately, Morgan Stanley lifted their price objective on shares of Nextdoor from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd.

Insider Buying and Selling at Nextdoor

In other news, General Counsel Sophia Schwartz sold 17,529 shares of Nextdoor stock in a transaction on Wednesday, October 16th. The stock was 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 approximately $786,038.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 46.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nextdoor

A number of institutional investors have recently modified their holdings of KIND. Swiss National Bank raised its holdings in shares of Nextdoor by 9.5% in the first quarter. Swiss National Bank now owns 305,600 shares of the company’s stock valued at $688,000 after acquiring an additional 26,400 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Nextdoor by 18.5% during the first quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock valued at $36,442,000 after purchasing an additional 2,529,694 shares in the last quarter. Quadrature Capital Ltd increased its holdings in Nextdoor by 91.9% during the first quarter. Quadrature Capital Ltd now owns 107,354 shares of the company’s stock valued at $241,000 after buying an additional 51,425 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Nextdoor by 28.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,779 shares of the company’s stock worth $99,000 after buying an additional 9,689 shares in the last quarter. Finally, FourWorld Capital Management LLC purchased a new stake in Nextdoor during the first quarter worth $496,000. 35.66% of the stock is owned by hedge funds and other institutional investors.

Nextdoor Stock Performance

The firm has a market capitalization of $1.08 billion, a PE ratio of -7.46 and a beta of 1.08. The stock has a fifty day moving average price of $2.44 and a 200-day moving average price of $2.49.

Nextdoor (NYSE:KIND) last announced its earnings results on Wednesday, August 7th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Nextdoor had a negative net margin of 65.63% and a negative return on equity of 22.69%. The business had revenue of $63.29 million during the quarter, compared to the consensus estimate of $58.80 million. Research analysts expect that Nextdoor Holdings, Inc. will post -0.23 earnings per share for the current fiscal year.

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.