Nextdoor (NYSE:KIND) Lowered to “Underweight” Rating by Morgan Stanley

Morgan Stanley lowered shares of Nextdoor (NYSE:KIND) from an equal weight rating to an underweight rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has $1.10 target price on the stock.

Several other equities research analysts have also commented on KIND. The Goldman Sachs Group dropped their price target on Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a research note on Monday, April 14th. Craig Hallum started coverage on Nextdoor in a research note on Thursday, January 30th. They set a “buy” rating and a $4.00 price target for the company.

Nextdoor Trading Down 1.0%

NYSE KIND opened at $1.44 on Tuesday. The business’s 50-day moving average price is $1.52 and its 200 day moving average price is $2.14. Nextdoor has a twelve month low of $1.32 and a twelve month high of $3.00. The company has a market capitalization of $554.34 million, a PE ratio of -4.48 and a beta of 1.16.

Nextdoor (NYSE:KIND) last released its earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $54.18 million for the quarter, compared to the consensus estimate of $53.14 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. Equities analysts predict that Nextdoor will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.72, for a total value of $25,800.00. Following the completion of the sale, the general counsel now owns 267,445 shares in the company, valued at approximately $460,005.40. This trade represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 46.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nextdoor

A number of large investors have recently modified their holdings of the stock. Titleist Asset Management LLC grew its stake in shares of Nextdoor by 1.1% in the fourth quarter. Titleist Asset Management LLC now owns 381,750 shares of the company’s stock valued at $905,000 after buying an additional 4,000 shares in the last quarter. Occudo Quantitative Strategies LP grew its stake in shares of Nextdoor by 3.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 138,203 shares of the company’s stock valued at $328,000 after buying an additional 4,091 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Nextdoor by 77.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock valued at $25,000 after buying an additional 4,514 shares in the last quarter. Invesco Ltd. grew its stake in shares of Nextdoor by 2.2% in the fourth quarter. Invesco Ltd. now owns 243,395 shares of the company’s stock valued at $577,000 after buying an additional 5,178 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Nextdoor by 13.9% in the first quarter. Arizona State Retirement System now owns 55,626 shares of the company’s stock valued at $85,000 after buying an additional 6,793 shares in the last quarter. Institutional investors and hedge funds own 35.66% of the company’s stock.

About Nextdoor

Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. The company enables neighbors and organizations to get information, give and get help, and build connections. It also offers advertising solutions, designs to generate value for businesses for connection and sales expansion.