Nextdoor (NYSE:KIND) Trading 2.4% Higher – Time to Buy?

Nextdoor Holdings, Inc. (NYSE:KIND)’s share price was up 2.4% during mid-day trading on Monday . The stock traded as high as $1.7750 and last traded at $1.74. Approximately 2,590,590 shares changed hands during trading, an increase of 41% from the average daily volume of 1,839,480 shares. The stock had previously closed at $1.70.

Nextdoor Stock Performance

The firm has a market cap of $665.70 million, a P/E ratio of -7.25 and a beta of 1.19. The company’s 50 day moving average is $2.03 and its 200 day moving average is $1.97.

Institutional Trading of Nextdoor

A number of hedge funds have recently made changes to their positions in KIND. R Squared Ltd bought a new position in Nextdoor in the 3rd quarter valued at approximately $30,000. Coldstream Capital Management Inc. bought a new position in shares of Nextdoor during the third quarter valued at $36,000. Polymer Capital Management US LLC acquired a new position in shares of Nextdoor during the third quarter worth $36,000. Jump Financial LLC bought a new stake in shares of Nextdoor in the second quarter worth $35,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Nextdoor in the second quarter valued at approximately $37,000. 35.66% of the stock is owned by institutional investors and hedge funds.

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.