Cannell Capital LLC lifted its stake in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,733,574 shares of the company's stock after acquiring an additional 524,342 shares during the quarter. Nextdoor makes up 3.3% of Cannell Capital LLC's portfolio, making the stock its 11th biggest holding. Cannell Capital LLC owned 1.76% of Nextdoor worth $15,959,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of KIND. Vanguard Group Inc. raised its stake in shares of Nextdoor by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company's stock worth $41,735,000 after purchasing an additional 1,041,258 shares in the last quarter. Geode Capital Management LLC increased its holdings in Nextdoor by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 4,258,509 shares of the company's stock worth $10,095,000 after buying an additional 215,781 shares during the last quarter. State Street Corp raised its position in Nextdoor by 1.3% during the third quarter. State Street Corp now owns 3,568,959 shares of the company's stock valued at $8,851,000 after acquiring an additional 46,595 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Nextdoor by 115.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,696,339 shares of the company's stock valued at $6,390,000 after acquiring an additional 1,444,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Nextdoor by 16.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company's stock worth $3,871,000 after acquiring an additional 227,208 shares in the last quarter. 35.66% of the stock is currently owned by hedge funds and other institutional investors.
Nextdoor Stock Performance
Shares of Nextdoor stock traded up $0.02 on Friday, reaching $1.49. The stock had a trading volume of 1,871,735 shares, compared to its average volume of 1,764,031. The business's 50-day moving average price is $1.97 and its two-hundred day moving average price is $2.30. The stock has a market cap of $576.36 million, a P/E ratio of -4.66 and a beta of 1.16. Nextdoor Holdings, Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $3.00.
Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share (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 company had revenue of $65.23 million for the quarter, compared to the consensus estimate of $63.12 million. As a group, equities analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.
Analyst Ratings Changes
KIND has been the subject of several analyst reports. Craig Hallum assumed 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. The Goldman Sachs Group decreased their price target on Nextdoor from $3.00 to $2.50 and set a "neutral" rating for the company in a research note on Monday, March 3rd.
Read Our Latest Report on KIND
Insider Buying and Selling
In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of the company's stock in a transaction that occurred on 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 transaction, the general counsel now owns 267,445 shares of the company's stock, valued at $460,005.40. This represents a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 46.04% of the stock is currently owned by insiders.
About Nextdoor
(
Free Report)
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.
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