Nextdoor (NYSE:KIND) Trading Down 2.3% – What’s Next?

Nextdoor Holdings, Inc. (NYSE:KIND) shares were down 2.3% during mid-day trading on Friday . The stock traded as low as $2.10 and last traded at $2.12. 2,331,614 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 2,049,735 shares. The stock had previously closed at $2.17.

Nextdoor Trading Down 2.3%

The business has a 50-day moving average price of $1.95 and a 200 day moving average price of $1.85. The stock has a market cap of $811.09 million, a PE ratio of -8.83 and a beta of 1.19.

Institutional Investors Weigh In On Nextdoor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KIND. Amundi boosted its position in Nextdoor by 75.0% during the first quarter. Amundi now owns 174,564 shares of the company’s stock worth $251,000 after purchasing an additional 74,829 shares during the period. AQR Capital Management LLC raised its position in shares of Nextdoor by 156.0% in the first quarter. AQR Capital Management LLC now owns 1,161,522 shares of the company’s stock valued at $1,777,000 after purchasing an additional 707,863 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nextdoor during the 1st quarter valued at approximately $211,000. Jane Street Group LLC lifted its stake in shares of Nextdoor by 6.0% during the 1st quarter. Jane Street Group LLC now owns 382,223 shares of the company’s stock valued at $585,000 after buying an additional 21,754 shares in the last quarter. Finally, Creative Planning boosted its holdings in Nextdoor by 165.0% in the 2nd quarter. Creative Planning now owns 134,395 shares of the company’s stock worth $223,000 after buying an additional 83,687 shares during the period. 35.66% of the stock is currently owned by institutional investors.

About Nextdoor

Nextdoor, Inc (NYSE: KIND) operates a hyperlocal social networking platform that enables neighbors to connect, share information and foster community engagement. Through its website and mobile applications, Nextdoor offers features such as neighborhood newsfeeds, classified listings, recommendations, event planning tools and safety alerts. The company’s platform is designed to bridge the gap between digital communication and real-world community building by facilitating dialogue on topics ranging from local services and business referrals to public safety and community events.

Nextdoor generates revenue primarily through advertising and paid business services.