Nextdoor Holdings, Inc. (NYSE:KIND – Get Free Report)’s share price was down 2.4% during mid-day trading on Thursday . The stock traded as low as $1.98 and last traded at $2.02. Approximately 3,109,776 shares were traded during mid-day 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 Down 3.7%
The stock has a market cap of $791.96 million, a P/E ratio of -8.63 and a beta of 1.19. The firm’s fifty day moving average price is $1.73 and its 200-day moving average price is $1.81.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in KIND. Amova Asset Management Americas Inc. grew its holdings in shares of Nextdoor by 25.4% in the third quarter. Amova Asset Management Americas Inc. now owns 13,660,830 shares of the company’s stock worth $28,415,000 after purchasing an additional 2,768,087 shares during the last quarter. Plustick Management LLC bought a new position in shares of Nextdoor in the third quarter worth approximately $4,888,000. Potrero Capital Research LLC bought a new position in shares of Nextdoor in the third quarter worth approximately $4,823,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Nextdoor in the third quarter worth approximately $4,160,000. Finally, BIT Capital GmbH bought a new position in shares of Nextdoor in the third quarter worth approximately $2,242,000. Institutional investors 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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