Nextdoor Holdings, Inc. (NYSE:KIND – Get Free Report)’s stock price dropped 2.4% during trading on Thursday . The stock traded as low as $1.98 and last traded at $2.02. Approximately 3,109,776 shares changed hands during trading, an increase of 52% from the average daily volume of 2,049,735 shares. The stock had previously closed at $2.07.
Nextdoor Stock Performance
The company has a market capitalization of $772.83 million, a P/E ratio of -8.42 and a beta of 1.19. The firm’s fifty day moving average is $1.71 and its 200 day moving average is $1.80.
Institutional Investors Weigh In On Nextdoor
Several large investors have recently added to or reduced their stakes in KIND. R Squared Ltd purchased a new stake in Nextdoor in the 3rd quarter valued at about $30,000. Jump Financial LLC purchased a new stake in Nextdoor in the 2nd quarter valued at about $35,000. Coldstream Capital Management Inc. purchased a new stake in Nextdoor in the 3rd quarter valued at about $36,000. Polymer Capital Management US LLC purchased a new stake in Nextdoor in the 3rd quarter valued at about $36,000. Finally, Prudential Financial Inc. boosted its position in Nextdoor by 95.3% in the 2nd quarter. Prudential Financial Inc. now owns 23,345 shares of the company’s stock valued at $39,000 after buying an additional 11,390 shares during the period. 35.66% of the stock is owned by hedge funds and other institutional investors.
Nextdoor Company Profile
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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