Short Interest in Nextdoor Holdings, Inc. (NYSE:KIND) Declines By 5.5%

Nextdoor Holdings, Inc. (NYSE:KIND) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,760,000 shares, a decrease of 5.5% from the October 15th total of 3,980,000 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

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

Nextdoor Price Performance

Shares of NYSE KIND opened at $2.37 on Monday. The company has a 50-day moving average price of $2.46 and a 200-day moving average price of $2.51. The stock has a market capitalization of $900.39 million, a P/E ratio of -7.41 and a beta of 1.08. Nextdoor has a 1 year low of $1.32 and a 1 year high of $2.99.

Nextdoor (NYSE:KIND) last released its quarterly 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. The business had revenue of $65.61 million during the quarter, compared to the consensus estimate of $62.10 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. During the same quarter in the previous year, the business earned ($0.10) EPS. As a group, equities research analysts anticipate that Nextdoor will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Sophia Schwartz sold 17,529 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total transaction of $45,224.82. Following the transaction, the general counsel now owns 304,666 shares in the company, valued at approximately $786,038.28. This represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 46.04% of the company’s stock.

Institutional Investors Weigh In On Nextdoor

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Nextdoor by 18.5% during the 1st quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock valued at $36,442,000 after acquiring an additional 2,529,694 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 last quarter. State Street Corp lifted its position in shares of Nextdoor by 1.3% during the third quarter. State Street Corp now owns 3,568,959 shares of the company’s stock valued at $8,851,000 after purchasing an additional 46,595 shares in the last quarter. Potrero Capital Research LLC boosted its holdings in Nextdoor by 29.4% during the third quarter. Potrero Capital Research LLC now owns 2,897,238 shares of the company’s stock worth $7,185,000 after purchasing an additional 657,492 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Nextdoor by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,814,300 shares of the company’s stock worth $5,044,000 after purchasing an additional 200,500 shares in the last quarter. Institutional investors own 35.66% of the company’s stock.

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.