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

Nextdoor Holdings, Inc. (NYSE:KIND) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,760,000 shares, a decline of 5.5% from the October 15th total of 3,980,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.0% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group lifted their price target on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their target price on shares of Nextdoor from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd.

Insiders Place Their Bets

In related news, General Counsel Sophia Schwartz sold 17,529 shares of the firm’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 sale, the general counsel now owns 304,666 shares of the company’s stock, valued at $786,038.28. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 46.04% of the company’s stock.

Institutional Investors Weigh In On Nextdoor

A number of institutional investors have recently modified their holdings of the company. XTX Topco Ltd bought a new position in Nextdoor during the second quarter worth $28,000. Ground Swell Capital LLC acquired a new stake in Nextdoor during the 2nd quarter worth about $30,000. Xponance Inc. bought a new position in shares of Nextdoor in the 2nd quarter worth about $31,000. Creative Planning acquired a new position in shares of Nextdoor in the 3rd quarter valued at about $28,000. Finally, nVerses Capital LLC bought a new stake in shares of Nextdoor during the 2nd quarter valued at about $49,000. 35.66% of the stock is owned by institutional investors.

Nextdoor Stock Down 0.6 %

Shares of NYSE:KIND opened at $2.36 on Tuesday. Nextdoor has a 12-month low of $1.32 and a 12-month high of $2.99. The business has a fifty day simple moving average of $2.46 and a 200 day simple moving average of $2.51.

Nextdoor (NYSE:KIND) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping 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 company had revenue of $65.61 million during the quarter, compared to the consensus estimate of $62.10 million. During the same period last year, the company earned ($0.10) earnings per share. On average, analysts forecast that Nextdoor will post -0.22 EPS 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.