Nextdoor Holdings, Inc. (NYSE:KIND – Get Free Report) dropped 0.6% during mid-day trading on Thursday . The company traded as low as $1.56 and last traded at $1.59. Approximately 1,250,095 shares changed hands during trading, a decline of 39% from the average daily volume of 2,049,735 shares. The stock had previously closed at $1.60.
Nextdoor Trading Down 0.6%
The company has a market capitalization of $608.31 million, a PE ratio of -6.63 and a beta of 1.19. The stock has a fifty day simple moving average of $1.54 and a 200-day simple moving average of $1.79.
Hedge Funds Weigh In On Nextdoor
Several hedge funds have recently added to or reduced their stakes in KIND. R Squared Ltd purchased a new position in Nextdoor in the third quarter valued at approximately $30,000. Jump Financial LLC purchased a new position in Nextdoor in the second quarter valued at approximately $35,000. Coldstream Capital Management Inc. purchased a new position in Nextdoor in the third quarter valued at approximately $36,000. Polymer Capital Management US LLC purchased a new position in Nextdoor in the third quarter valued at approximately $36,000. Finally, Prudential Financial Inc. increased its stake in Nextdoor by 95.3% in the second quarter. Prudential Financial Inc. now owns 23,345 shares of the company’s stock valued at $39,000 after purchasing an additional 11,390 shares during the last quarter. 35.66% of the stock is currently 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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