Nextdoor Holdings, Inc. (NYSE:KIND) Sees Large Increase in Short Interest

Nextdoor Holdings, Inc. (NYSE:KIND) was the recipient of a large growth in short interest during 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. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.2% of the shares of the company are short sold.

Nextdoor Price Performance

Shares of NYSE:KIND traded up $0.03 during mid-day trading on Friday, reaching $2.42. 953,951 shares of the company traded hands, compared to its average volume of 1,673,073. The company’s 50 day moving average price is $2.46 and its 200-day moving average price is $2.51. The firm has a market cap of $922.88 million, a PE ratio of -7.55 and a beta of 1.05. Nextdoor has a 52 week low of $1.52 and a 52 week high of $2.99.

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

Insider Activity

In other news, General Counsel Sophia Schwartz sold 16,834 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.45, for a total transaction of $41,243.30. Following the completion of the sale, the general counsel now owns 215,536 shares of the company’s stock, valued at $528,063.20. This represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 20,222 shares of company stock valued at $49,679 in the last quarter. 46.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in Nextdoor in the 2nd quarter worth approximately $28,000. Creative Planning bought a new position in shares of Nextdoor during the 3rd quarter valued at approximately $28,000. Xponance Inc. bought a new position in shares of Nextdoor during the 2nd quarter valued at approximately $31,000. Savvy Advisors Inc. bought a new position in shares of Nextdoor during the 3rd quarter valued at approximately $61,000. Finally, Asset Management One Co. Ltd. bought a new position in shares of Nextdoor during the 3rd quarter valued at approximately $79,000. 35.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.