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

Nextdoor Holdings, Inc. (NYSE:KINDGet Rating) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 11,650,000 shares, an increase of 5.5% from the October 15th total of 11,040,000 shares. Based on an average daily volume of 2,260,000 shares, the short-interest ratio is presently 5.2 days. Currently, 11.2% of the company’s shares are short sold.

Nextdoor Trading Down 2.9 %

Shares of Nextdoor stock opened at 2.35 on Friday. Nextdoor has a 52-week low of 2.04 and a 52-week high of 13.85. The company has a 50 day moving average of 2.75 and a 200 day moving average of 3.12.

Institutional Investors Weigh In On Nextdoor

Several institutional investors have recently modified their holdings of KIND. State Street Corp boosted its position in shares of Nextdoor by 1.0% during the 2nd quarter. State Street Corp now owns 331,463 shares of the company’s stock worth $1,097,000 after acquiring an additional 3,394 shares in the last quarter. Quantbot Technologies LP increased its stake in Nextdoor by 261.4% in the first quarter. Quantbot Technologies LP now owns 4,922 shares of the company’s stock valued at $29,000 after purchasing an additional 3,560 shares during the last quarter. Van Hulzen Asset Management LLC raised its holdings in Nextdoor by 24.2% during the third quarter. Van Hulzen Asset Management LLC now owns 30,794 shares of the company’s stock worth $86,000 after purchasing an additional 6,000 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Nextdoor by 0.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,980,602 shares of the company’s stock worth $6,556,000 after buying an additional 6,300 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Nextdoor by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 332,078 shares of the company’s stock valued at $1,990,000 after buying an additional 8,222 shares in the last quarter. 31.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on KIND. Citigroup reduced their target price on Nextdoor from $3.75 to $2.85 in a research report on Wednesday, November 9th. Morgan Stanley cut their price target on shares of Nextdoor from $2.50 to $2.30 and set an “equal weight” rating on the stock in a research note on Wednesday, November 9th. Evercore ISI dropped their price objective on shares of Nextdoor to $5.00 in a report on Tuesday. Finally, The Goldman Sachs Group cut their target price on shares of Nextdoor from $3.50 to $2.75 and set a “neutral” rating on the stock in a research note on Wednesday, November 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of 3.98.

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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