Nextdoor Holdings, Inc. (NYSE:KIND) Short Interest Update

Nextdoor Holdings, Inc. (NYSE:KIND) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,160,000 shares, an increase of 26.8% from the December 15th total of 3,280,000 shares. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.2% of the shares of the stock are short sold.

Nextdoor Stock Up 1.0 %

NYSE:KIND traded up $0.03 during mid-day trading on Friday, hitting $2.42. 953,951 shares of the stock traded hands, compared to its average volume of 1,673,073. Nextdoor has a 52 week low of $1.52 and a 52 week high of $2.99. The stock has a market capitalization of $922.88 million, a price-to-earnings ratio of -7.55 and a beta of 1.05. The firm’s 50 day moving average is $2.46 and its two-hundred day moving average is $2.51.

Nextdoor (NYSE:KIND) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The firm had revenue of $65.61 million for the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. As a group, research analysts predict that Nextdoor will post -0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price objective on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th.

Insiders Place Their Bets

In related news, General Counsel Sophia Schwartz sold 16,834 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.45, for a total value of $41,243.30. Following the completion of the transaction, the general counsel now owns 215,536 shares of the company’s stock, valued at approximately $528,063.20. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 20,222 shares of company stock valued at $49,679 in the last quarter. 46.04% of the stock is currently owned by insiders.

Institutional Trading of Nextdoor

A number of large investors have recently made changes to their positions in KIND. Geode Capital Management LLC grew its stake in Nextdoor by 5.3% in the third quarter. Geode Capital Management LLC now owns 4,042,728 shares of the company’s stock worth $10,028,000 after purchasing an additional 205,015 shares in the last quarter. State Street Corp lifted its holdings in shares of Nextdoor by 1.3% in the 3rd quarter. State Street Corp now owns 3,568,959 shares of the company’s stock worth $8,851,000 after buying an additional 46,595 shares during the period. Potrero Capital Research LLC increased its stake in shares of Nextdoor by 29.4% during the third quarter. Potrero Capital Research LLC now owns 2,897,238 shares of the company’s stock valued at $7,185,000 after buying an additional 657,492 shares during the period. Renaissance Technologies LLC increased its stake in shares of Nextdoor by 12.4% during the second quarter. Renaissance Technologies LLC now owns 1,814,300 shares of the company’s stock valued at $5,044,000 after buying an additional 200,500 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Nextdoor in the second quarter worth about $4,327,000. 35.66% of the stock is owned by hedge funds and other institutional investors.

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.