Arrowstreet Capital Limited Partnership Raises Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

Arrowstreet Capital Limited Partnership raised its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 115.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,696,339 shares of the company's stock after buying an additional 1,444,343 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.71% of Nextdoor worth $6,390,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in KIND. Intech Investment Management LLC purchased a new stake in Nextdoor during the third quarter valued at approximately $84,000. Charles Schwab Investment Management Inc. lifted its position in Nextdoor by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company's stock worth $3,487,000 after buying an additional 75,229 shares during the last quarter. FMR LLC boosted its stake in Nextdoor by 1,609.1% during the third quarter. FMR LLC now owns 62,690 shares of the company's stock worth $155,000 after buying an additional 59,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Nextdoor by 6.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,561 shares of the company's stock valued at $837,000 after acquiring an additional 21,405 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in Nextdoor by 142.9% during the third quarter. Verition Fund Management LLC now owns 52,900 shares of the company's stock valued at $131,000 after acquiring an additional 31,121 shares during the last quarter. Institutional investors own 35.66% of the company's stock.

Wall Street Analysts Forecast Growth

KIND has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their target price on Nextdoor from $3.00 to $2.50 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Craig Hallum began coverage on Nextdoor in a report on Thursday, January 30th. They issued a "buy" rating and a $4.00 price target for the company.

Insiders Place Their Bets

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.72, for a total transaction of $25,800.00. Following the completion of the transaction, the general counsel now owns 267,445 shares of the company's stock, valued at $460,005.40. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 46.04% of the stock is currently owned by insiders.

Nextdoor Stock Performance

KIND traded up $0.02 on Friday, hitting $1.49. The company had a trading volume of 1,871,735 shares, compared to its average volume of 1,760,777. The stock has a market capitalization of $576.36 million, a price-to-earnings ratio of -4.66 and a beta of 1.16. The stock has a fifty day moving average price of $1.97 and a 200-day moving average price of $2.30. Nextdoor Holdings, Inc. has a 12-month low of $1.35 and a 12-month high of $3.00.

Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The firm had revenue of $65.23 million during the quarter, compared to analyst estimates of $63.12 million. Analysts forecast that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Nextdoor Profile

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.