Cornerstone Partners Capital Management LLC Increases Stock Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Cornerstone Partners Capital Management LLC lifted its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 83.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 586,522 shares of the company's stock after buying an additional 267,527 shares during the period. Nextdoor comprises approximately 3.0% of Cornerstone Partners Capital Management LLC's investment portfolio, making the stock its 7th biggest position. Cornerstone Partners Capital Management LLC owned approximately 0.15% of Nextdoor worth $1,390,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in Nextdoor by 14.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,852 shares of the company's stock valued at $191,000 after purchasing an additional 8,546 shares during the period. Creative Planning acquired a new position in Nextdoor in the third quarter valued at $28,000. R Squared Ltd bought a new stake in Nextdoor during the fourth quarter valued at $45,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Nextdoor by 6.8% during 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 worth $837,000 after acquiring an additional 21,405 shares during the period. Finally, Savvy Advisors Inc. bought a new position in shares of Nextdoor in the 3rd quarter worth about $61,000. 35.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KIND shares. The Goldman Sachs Group raised their target price on Nextdoor from $2.50 to $3.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Craig Hallum initiated coverage on shares of Nextdoor in a research note on Thursday, January 30th. They issued a "buy" rating and a $4.00 price objective for the company.

Nextdoor Price Performance

Nextdoor stock remained flat at $2.74 during mid-day trading on Friday. The company's stock had a trading volume of 1,109,200 shares, compared to its average volume of 1,330,799. Nextdoor Holdings, Inc. has a 12-month low of $1.60 and a 12-month high of $2.99. The company has a fifty day simple moving average of $2.49 and a 200-day simple moving average of $2.49. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -8.56 and a beta of 1.07.

Nextdoor (NYSE:KIND - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $65.61 million for the quarter, compared to analyst estimates of $62.10 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. During the same period last year, the firm earned ($0.10) earnings per share. As a group, equities research analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Insider Activity at Nextdoor

In other news, General Counsel Sophia Schwartz sold 16,834 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.45, for a total value of $41,243.30. Following the transaction, the general counsel now owns 215,536 shares in the company, valued at $528,063.20. The trade was a 7.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 20,222 shares of company stock valued at $49,679. 46.04% of the stock is owned by corporate insiders.

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.