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

Nextdoor Holdings, Inc. (NYSE:KIND) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 4,110,000 shares, a growth of 11.7% from the May 15th total of 3,680,000 shares. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jump Financial LLC purchased a new position in Nextdoor in the 3rd quarter worth approximately $25,000. IAM Advisory LLC bought a new position in shares of Nextdoor during the fourth quarter worth $32,000. Westside Investment Management Inc. boosted its position in shares of Nextdoor by 294.3% during the first quarter. Westside Investment Management Inc. now owns 15,408 shares of the company’s stock worth $35,000 after acquiring an additional 11,500 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Nextdoor during the third quarter valued at $36,000. Finally, Tower Research Capital LLC TRC increased its holdings in Nextdoor by 266.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 24,688 shares of the company’s stock valued at $47,000 after acquiring an additional 17,950 shares during the last quarter. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group increased their price target on shares of Nextdoor from $2.25 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, May 9th.

Nextdoor Stock Performance

Shares of NYSE KIND traded up $0.03 during trading on Friday, hitting $2.53. The company had a trading volume of 1,437,441 shares, compared to its average volume of 2,141,062. Nextdoor has a 12 month low of $1.32 and a 12 month high of $3.41. The firm has a market capitalization of $987.41 million, a P/E ratio of -7.03 and a beta of 1.06. The stock has a 50 day simple moving average of $2.27 and a 200 day simple moving average of $2.01.

Nextdoor (NYSE:KIND) last released its earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $53.15 million for the quarter, compared to analysts’ expectations of $50.90 million. Nextdoor had a negative net margin of 64.19% and a negative return on equity of 23.84%. As a group, analysts predict that Nextdoor will post -0.24 EPS for the current year.

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.