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

Nextdoor Holdings, Inc. (NYSE:KIND) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 3,640,000 shares, a decrease of 16.7% from the January 15th total of 4,370,000 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average daily volume of 1,920,000 shares, the short-interest ratio is presently 1.9 days.

Insider Activity at Nextdoor

In related news, General Counsel Sophia Schwartz sold 16,834 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.45, for a total transaction of $41,243.30. Following the transaction, the general counsel now directly owns 215,536 shares in the company, valued at approximately $528,063.20. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 46.04% of the company’s stock.

Hedge Funds Weigh In On Nextdoor

Several large investors have recently modified their holdings of KIND. AXQ Capital LP bought a new stake in shares of Nextdoor during the 4th quarter worth about $25,000. Tower Research Capital LLC TRC lifted its position 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 acquiring an additional 4,514 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Nextdoor during the fourth quarter worth approximately $27,000. Creative Planning acquired a new position in shares of Nextdoor in the third quarter valued at approximately $28,000. Finally, US Bancorp DE acquired a new position in shares of Nextdoor in the fourth quarter valued at approximately $29,000. 35.66% of the stock is owned by institutional investors.

Nextdoor Stock Performance

KIND traded up $0.01 during trading hours on Monday, reaching $2.75. The company’s stock had a trading volume of 1,831,324 shares, compared to its average volume of 1,330,799. The company’s 50-day moving average is $2.51 and its 200-day moving average is $2.48. Nextdoor has a 52 week low of $1.67 and a 52 week high of $2.99. The firm has a market cap of $1.05 billion, a PE ratio of -8.58 and a beta of 1.07.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KIND shares. The Goldman Sachs Group lifted their price objective on shares of Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum initiated coverage on Nextdoor in a report on Thursday, January 30th. They set a “buy” rating and a $4.00 price target for the company.

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.