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

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

Insider Activity

In other Nextdoor news, General Counsel Sophia Schwartz sold 16,834 shares of the firm’s stock in a transaction that occurred on 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 sale, the general counsel now directly owns 215,536 shares in the company, valued at $528,063.20. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 20,222 shares of company stock worth $49,679. 46.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nextdoor

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Nextdoor by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company’s stock valued at $3,487,000 after buying an additional 75,229 shares during the period. Travelers Companies Inc. purchased a new position in shares of Nextdoor in the 3rd quarter valued at about $593,000. Barclays PLC raised its holdings in Nextdoor by 326.2% in the 3rd quarter. Barclays PLC now owns 267,490 shares of the company’s stock worth $663,000 after purchasing an additional 204,729 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in Nextdoor by 261.8% during the third quarter. Dynamic Technology Lab Private Ltd now owns 69,474 shares of the company’s stock worth $172,000 after purchasing an additional 50,273 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Nextdoor by 5.3% in the third quarter. Geode Capital Management LLC now owns 4,042,728 shares of the company’s stock valued at $10,028,000 after purchasing an additional 205,015 shares during the period. 35.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Nextdoor Stock Performance

Shares of NYSE KIND traded up $0.03 during mid-day trading on Friday, hitting $2.42. The stock had a trading volume of 953,951 shares, compared to its average volume of 1,673,073. Nextdoor has a twelve month low of $1.52 and a twelve month high of $2.99. The firm has a market cap of $922.88 million, a PE ratio of -7.55 and a beta of 1.05. The company has a 50 day moving average of $2.46 and a two-hundred day moving average of $2.51.

Nextdoor (NYSE:KIND) last posted its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. The company had revenue of $65.61 million during the quarter, compared to the consensus estimate of $62.10 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. Equities research analysts predict 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.