Nextdoor (NYSE:KIND) Hits New 1-Year Low – Should You Sell?

Nextdoor Holdings, Inc. (NYSE:KIND)’s stock price reached a new 52-week low on Friday . The company traded as low as $1.59 and last traded at $1.60, with a volume of 255104 shares. The stock had previously closed at $1.63.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KIND shares. The Goldman Sachs Group lowered their target price on Nextdoor from $3.00 to $2.50 and set a “neutral” rating for the company in a report on Monday, March 3rd. Craig Hallum assumed coverage on Nextdoor in a research note on Thursday, January 30th. They set a “buy” rating and a $4.00 price target on the stock.

Nextdoor Stock Down 4.0 %

The company has a market capitalization of $604.56 million, a price-to-earnings ratio of -4.89 and a beta of 1.14. The business’s 50-day moving average is $2.24 and its 200-day moving average is $2.38.

Nextdoor (NYSE:KIND) last posted its earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The firm had revenue of $65.23 million for the quarter, compared to analyst estimates of $63.12 million. As a group, analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Insider Activity

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the transaction, the general counsel now directly owns 267,445 shares of the company’s stock, valued at approximately $460,005.40. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 46.04% of the company’s stock.

Institutional Trading of Nextdoor

Large investors have recently added to or reduced their stakes in the stock. AXQ Capital LP acquired a new position in Nextdoor in the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC boosted its stake in Nextdoor by 77.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock worth $25,000 after buying an additional 4,514 shares during the period. SVB Wealth LLC acquired a new stake in shares of Nextdoor during the fourth quarter valued at about $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Nextdoor in the 4th quarter valued at approximately $27,000. Finally, US Bancorp DE acquired a new position in shares of Nextdoor in the 4th quarter worth approximately $29,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

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.