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

Cornerstone Partners Capital Management LLC purchased a new position in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 318,995 shares of the company's stock, valued at approximately $791,000. Nextdoor makes up about 1.6% of Cornerstone Partners Capital Management LLC's investment portfolio, making the stock its 8th biggest holding. Cornerstone Partners Capital Management LLC owned about 0.08% of Nextdoor as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KIND. XTX Topco Ltd bought a new stake in shares of Nextdoor during the second quarter valued at approximately $28,000. Creative Planning purchased a new stake in Nextdoor in the third quarter worth approximately $28,000. Ground Swell Capital LLC purchased a new stake in Nextdoor during the 2nd quarter valued at $30,000. Xponance Inc. bought a new position in shares of Nextdoor during the 2nd quarter valued at $31,000. Finally, Westside Investment Management Inc. boosted its stake in shares of Nextdoor by 294.3% in the 1st quarter. Westside Investment Management Inc. now owns 15,408 shares of the company's stock worth $35,000 after buying an additional 11,500 shares during the last quarter. Institutional investors own 35.66% of the company's stock.

Nextdoor Stock Performance

Shares of Nextdoor stock traded down $0.07 during trading hours on Tuesday, hitting $2.41. The company's stock had a trading volume of 643,242 shares, compared to its average volume of 1,547,802. The company has a market cap of $938.63 million, a PE ratio of -6.75 and a beta of 1.08. The business has a 50 day moving average price of $2.45 and a two-hundred day moving average price of $2.45. Nextdoor Holdings, Inc. has a 12-month low of $1.32 and a 12-month high of $2.99.

Nextdoor (NYSE:KIND - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. Nextdoor had a negative return on equity of 22.69% and a negative net margin of 65.63%. The business had revenue of $63.29 million during the quarter, compared to the consensus estimate of $58.80 million. As a group, research analysts anticipate that Nextdoor Holdings, Inc. will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Nextdoor

In other news, General Counsel Sophia Schwartz sold 17,529 shares of Nextdoor stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $2.58, for a total value of $45,224.82. Following the completion of the transaction, the general counsel now owns 304,666 shares in the company, valued at approximately $786,038.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 46.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley increased their target price on Nextdoor from $2.20 to $2.50 and gave the company an "equal weight" rating in a report on Tuesday, July 23rd.

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.