Shares of Nextdoor Holdings, Inc. (NYSE:KIND – Get Free Report) dropped 3.6% on Monday . The company traded as low as $2.33 and last traded at $2.39. 2,408,036 shares were traded during mid-day trading, an increase of 17% from the average session volume of 2,049,735 shares. The stock had previously closed at $2.48.
Nextdoor Stock Down 3.6%
The stock’s 50-day moving average price is $2.17 and its 200 day moving average price is $1.87. The firm has a market capitalization of $914.39 million, a price-to-earnings ratio of -9.96 and a beta of 1.19.
Institutional Trading of Nextdoor
A number of hedge funds have recently bought and sold shares of the business. Coldstream Capital Management Inc. purchased a new position in Nextdoor in the 3rd quarter worth approximately $36,000. Polymer Capital Management US LLC purchased a new stake in shares of Nextdoor in the third quarter valued at approximately $36,000. Jump Financial LLC acquired a new stake in shares of Nextdoor in the second quarter valued at approximately $35,000. CIBC Bancorp USA Inc. purchased a new position in Nextdoor during the third quarter worth approximately $42,000. Finally, Prudential Financial Inc. lifted its position in Nextdoor by 95.3% during the second quarter. Prudential Financial Inc. now owns 23,345 shares of the company’s stock worth $39,000 after buying an additional 11,390 shares in the last quarter. Institutional investors and hedge funds own 35.66% of the company’s stock.
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.
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