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

Nextdoor Holdings, Inc. (NYSE:KIND) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 4,290,000 shares, an increase of 7.8% from the March 15th total of 3,980,000 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average daily volume of 1,730,000 shares, the short-interest ratio is presently 2.5 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Nextdoor by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 13,666,683 shares of the company’s stock valued at $25,830,000 after acquiring an additional 910,421 shares during the last quarter. ARK Investment Management LLC lifted its position in Nextdoor by 56.7% in the 4th quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock worth $20,388,000 after buying an additional 3,901,481 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Nextdoor by 17.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,640,128 shares of the company’s stock worth $18,220,000 after buying an additional 1,442,973 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its position in Nextdoor by 17.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 9,640,128 shares of the company’s stock worth $18,123,000 after buying an additional 1,442,973 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Nextdoor by 389.8% in the 2nd quarter. BlackRock Inc. now owns 9,564,194 shares of the company’s stock worth $31,179,000 after buying an additional 7,611,601 shares during the last quarter. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price objective on Nextdoor from $1.75 to $2.25 and gave the company a “neutral” rating in a research note on Wednesday, February 28th.

Nextdoor Price Performance

Shares of Nextdoor stock traded up $0.02 during trading hours on Wednesday, hitting $1.98. 332,046 shares of the company’s stock traded hands, compared to its average volume of 1,658,147. Nextdoor has a 12-month low of $1.32 and a 12-month high of $3.42. The stock has a market capitalization of $779.39 million, a price-to-earnings ratio of -5.16 and a beta of 0.98. The company has a fifty day simple moving average of $2.05 and a 200-day simple moving average of $1.84.

Nextdoor (NYSE:KIND) last announced its earnings results on Tuesday, February 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.03. Nextdoor had a negative return on equity of 24.22% and a negative net margin of 67.69%. The firm had revenue of $55.56 million during the quarter, compared to analyst estimates of $50.94 million. On average, analysts forecast that Nextdoor will post -0.27 EPS for the current fiscal year.

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.