CenterBook Partners LP Buys New Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

CenterBook Partners LP acquired a new stake in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 540,698 shares of the company's stock, valued at approximately $1,281,000. CenterBook Partners LP owned about 0.14% of Nextdoor as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Nextdoor by 5.7% during the 3rd 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 period. FMR LLC boosted its position in shares of Nextdoor by 1,609.1% during the third quarter. FMR LLC now owns 62,690 shares of the company's stock valued at $155,000 after purchasing an additional 59,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Nextdoor by 6.8% in the 3rd 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 in the last quarter. Verition Fund Management LLC lifted its position in shares of Nextdoor by 142.9% in the third quarter. Verition Fund Management LLC now owns 52,900 shares of the company's stock worth $131,000 after buying an additional 31,121 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Nextdoor by 1.3% during the 3rd quarter. State Street Corp now owns 3,568,959 shares of the company's stock valued at $8,851,000 after buying an additional 46,595 shares during the last quarter. 35.66% of the stock is owned by institutional investors.

Nextdoor Stock Performance

Shares of KIND traded up $0.02 during trading hours on Wednesday, hitting $1.49. The company had a trading volume of 383,261 shares, compared to its average volume of 1,757,385. The stock has a market capitalization of $575.59 million, a price-to-earnings ratio of -4.66 and a beta of 1.16. Nextdoor Holdings, Inc. has a 52-week low of $1.35 and a 52-week high of $3.00. The firm has a fifty day moving average price of $1.92 and a 200-day moving average price of $2.28.

Nextdoor (NYSE:KIND - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, hitting analysts' consensus estimates of ($0.03). The firm had revenue of $65.23 million during the quarter, compared to analysts' expectations of $63.12 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. Research analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were 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 $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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 46.04% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Craig Hallum began coverage on shares of Nextdoor in a report on Thursday, January 30th. They issued a "buy" rating and a $4.00 price target for the company. 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 report on Monday.

Nextdoor Company 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.