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 traded hands during mid-day 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 target on Nextdoor from $1.75 to $2.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th.

Nextdoor Stock Up 8.8 %

The firm has a market cap of $972.27 million, a P/E ratio of -6.50 and a beta of 0.99. The business has a fifty day simple moving average of $2.13 and a 200-day simple moving average of $1.86.

Nextdoor (NYSE:KIND) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. Nextdoor had a negative return on equity of 24.22% and a negative net margin of 67.69%. The business had revenue of $55.56 million during the quarter, compared to analysts’ expectations of $50.94 million. On average, sell-side analysts anticipate that Nextdoor Holdings, Inc. will post -0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Nextdoor

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Nextdoor in the 3rd quarter worth $77,000. Summit Trail Advisors LLC purchased a new stake in shares of Nextdoor during the 3rd quarter valued at about $92,000. Congress Wealth Management LLC DE bought a new position in shares of Nextdoor in the 3rd quarter worth approximately $83,000. Versor Investments LP raised its holdings in Nextdoor by 334.0% in the 3rd quarter. Versor Investments LP now owns 81,600 shares of the company’s stock worth $149,000 after purchasing an additional 62,800 shares during the period. Finally, Jump Financial LLC purchased a new position in Nextdoor during the third quarter valued at $25,000. 35.66% of the stock is currently owned by 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.