Ground Swell Capital LLC Makes New $30,000 Investment in Nextdoor Holdings, Inc. (NYSE:KIND)

Ground Swell Capital LLC bought a new stake in Nextdoor Holdings, Inc. (NYSE:KIND) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,772 shares of the company’s stock, valued at approximately $30,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. lifted its stake in shares of Nextdoor by 294.3% in the first quarter. Westside Investment Management Inc. now owns 15,408 shares of the company’s stock valued at $35,000 after purchasing an additional 11,500 shares during the period. nVerses Capital LLC acquired a new position in shares of Nextdoor in the second quarter valued at approximately $49,000. Versor Investments LP purchased a new stake in Nextdoor in the second quarter valued at approximately $75,000. Sivia Capital Partners LLC purchased a new stake in Nextdoor in the fourth quarter valued at approximately $77,000. Finally, SG Americas Securities LLC grew its holdings in Nextdoor by 50.6% in the second quarter. SG Americas Securities LLC now owns 34,016 shares of the company’s stock valued at $95,000 after purchasing an additional 11,424 shares during the period. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley boosted their price objective on Nextdoor from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd.

Nextdoor Price Performance

Shares of NYSE KIND opened at $2.27 on Thursday. Nextdoor Holdings, Inc. has a 1-year low of $1.32 and a 1-year high of $2.99. The business’s fifty day moving average price is $2.61 and its two-hundred day moving average price is $2.40. The firm has a market capitalization of $883.99 million, a PE ratio of -6.29 and a beta of 1.08.

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

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.