Nextdoor (NYSE:KIND) Stock Price Up 6.3%

Nextdoor Holdings, Inc. (NYSE:KINDGet Rating)’s stock price rose 6.3% during trading on Wednesday . The company traded as high as 3.27 and last traded at 3.23. Approximately 101,550 shares changed hands during trading, a decline of 96% from the average daily volume of 2,349,358 shares. The stock had previously closed at 3.04.

Analysts Set New Price Targets

KIND has been the topic of a number of recent research reports. Citigroup cut their price target on shares of Nextdoor from $4.50 to $3.75 and set a “neutral” rating on the stock in a report on Wednesday, August 10th. Morgan Stanley cut their price target on shares of Nextdoor from $3.00 to $2.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 10th. The Goldman Sachs Group dropped their target price on shares of Nextdoor from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, August 10th. Finally, Evercore ISI dropped their target price on shares of Nextdoor to $6.00 in a report on Monday, August 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of 4.55.

Nextdoor Stock Down 6.4 %

The stock has a market capitalization of $1.13 billion, a P/E ratio of -3.38 and a beta of 0.18. The firm’s 50 day simple moving average is 3.28 and its two-hundred day simple moving average is 3.93.

Insider Buying and Selling at Nextdoor

In related news, major shareholder Greylock 16 Gp Llc purchased 1,600,000 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was purchased at an average cost of 3.06 per share, with a total value of 4,896,000.00. Following the completion of the purchase, the insider now owns 8,043,364 shares in the company, valued at approximately 24,612,693.84. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Nextdoor news, Director David L. Sze bought 500,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was bought at an average cost of 3.32 per share, with a total value of 1,660,000.00. Following the completion of the transaction, the director now directly owns 9,869,014 shares in the company, valued at approximately 32,765,126.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Greylock 16 Gp Llc bought 1,600,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were acquired at an average cost of 3.06 per share, with a total value of 4,896,000.00. Following the completion of the transaction, the insider now owns 8,043,364 shares of the company’s stock, valued at 24,612,693.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 5,765,000 shares of company stock valued at $17,939,150. Corporate insiders own 41.91% of the company’s stock.

Institutional Investors Weigh In On Nextdoor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. bought a new stake in Nextdoor in the 4th quarter worth about $134,000. Northern Trust Corp bought a new stake in Nextdoor in the 4th quarter worth about $924,000. Raymond James & Associates bought a new stake in Nextdoor in the 4th quarter worth about $358,000. Bank of America Corp DE bought a new stake in Nextdoor in the 4th quarter worth about $2,032,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Nextdoor in the 4th quarter worth about $88,000. 31.14% of the stock is owned by institutional investors.

About Nextdoor

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Nextdoor Holdings, Inc operates as the neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. It enables small and mid-sized businesses, large brands, public agencies, and nonprofits to receive information, give and get help, and build connections.

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