Nextdoor (NYSE:KIND) Given New $3.00 Price Target at The Goldman Sachs Group

Nextdoor (NYSE:KIND) had its target price upped by The Goldman Sachs Group from $2.50 to $3.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

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

Nextdoor Stock Performance

KIND stock traded down $0.25 on Thursday, reaching $2.59. The company had a trading volume of 8,258,295 shares, compared to its average volume of 1,580,847. Nextdoor has a 1 year low of $1.32 and a 1 year high of $2.99. The company’s fifty day moving average is $2.44 and its 200 day moving average is $2.49. The company has a market cap of $982.06 million, a P/E ratio of -7.46 and a beta of 1.08.

Nextdoor (NYSE:KIND) last posted its earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Nextdoor had a negative return on equity of 22.69% and a negative net margin of 65.63%. The firm had revenue of $63.29 million for the quarter, compared to analyst estimates of $58.80 million. On average, sell-side analysts predict that Nextdoor will post -0.23 earnings per share for the current year.

Insider Transactions at Nextdoor

In other news, General Counsel Sophia Schwartz sold 17,529 shares of the company’s 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 $786,038.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 46.04% of the company’s stock.

Institutional Trading of Nextdoor

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Nextdoor by 18.5% in the 1st 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. Renaissance Technologies LLC increased its holdings in Nextdoor by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,814,300 shares of the company’s stock valued at $5,044,000 after purchasing an additional 200,500 shares in the last quarter. Marshall Wace LLP acquired a new stake in Nextdoor in the 2nd quarter valued at $4,327,000. Millennium Management LLC increased its holdings in Nextdoor by 59.7% in the 2nd quarter. Millennium Management LLC now owns 1,406,953 shares of the company’s stock valued at $3,911,000 after purchasing an additional 526,108 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Nextdoor by 172.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,218,808 shares of the company’s stock valued at $3,388,000 after purchasing an additional 770,858 shares in the last quarter. 35.66% of the stock is currently owned by institutional investors and hedge funds.

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.